In order to find the amount of money at the end of 4 years, you have the find the amount of money after one year. So, the first step is to multiply 6.24 by .05 to get the percent gained in one year. This is .312. Then, you multiply the amount from the first year by four, for the other years, and get 1.248. That is how much you will earn in four years. Now, to get the total of all the money in the bank account after four years, you add 1.248 to 6.24. This sums up to 7.488 which is your answer. Hope this helps :)
