where you imagined depositing $500 into a savings account that had an annual interest rate of 5%. Calculate how much you would e

Question

3 years ago

5

where you imagined depositing $500 into a savings account that had an annual interest rate of 5%. Calculate how much you would e

arn each year (Column 1). Hint: Be sure to use the NEW total account amount when calculating compound interest earned! Then, calculate how much money you would have at the end of each year (Column 2).

Mathematics

1 answer:

romanna [79] · Answer 1 · 2022-06-21T18:52:00+03:00

romanna [79]3 years ago

4 0

Answer:

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Step-by-step explanation:

Column 1:

500 x 5% = 250

$250 in interest each year

Column 2:

500 + 250 = 750