Reggie deposited $1200 into an account that earns 5% compound interest yearly if he does not deposit any more to the account or

Question

3 years ago

12

Reggie deposited $1200 into an account that earns 5% compound interest yearly if he does not deposit any more to the account or

take any money out of the account how much interest will Reggie earn on his investment at the end of four years round your answer to the nearest whole number

Mathematics

1 answer:

Brilliant_brown [7] · Answer 1 · 2022-07-02T21:15:16+03:00

Brilliant_brown [7]3 years ago

7 0

Answer:

$1,440

Step-by-step explanation:

1,200 / 10 = 120. 120 is 10%. So this means that 5% is $60. 60 x 4 = 240.

1,200 + 240 = 1,440