Amanda has $5200 in a savings account that earns 4% annually. If the interest is not compounded, what is the value of her accoun

Question

rusak2 [61]

3 years ago

14

Amanda has $5200 in a savings account that earns 4% annually. If the interest is not compounded, what is the value of her accoun

t in 5 years?
A. $208

B. $1040

C. $5408

D. $6240

Mathematics

2 answers:

Vlad1618 [11] · Answer 1 · 2021-11-28T10:43:11+03:00

Vlad1618 [11]3 years ago

8 0

First thing you do is to start off with 5200, and if she earns 4% each year for the next 5 years, she would earn a total of 20% more than what she had now.

Then you would have to multiply 5,200 by 1.20 Which equals 6,240.<span>

Answer:
</span>D. $6240

Hope this helps!

iren2701 [21] · Answer 2 · 2021-11-28T08:22:12+03:00

iren2701 [21]3 years ago

4 0

The interest is simple
A=5,200×(1+0.04×5)
A=6,240