An unanticipated expense that will make it difficult to get by day-to-day would be a candidate for…
1 answer:
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Answer:
Interest in 5 years will be $1418.07 which is near about $1420
So option (D) will be correct answer
Explanation:
We have given amount invested, that is principal amount P = $5000
Rate of interest r = 5 %
Time taken t = 5 years
As interest is compounded monthly so rate of interest
And time period n = 12×5 = 60 period
So total amount after 5 year will be equal to
We have to find the interest
Interest will be equal to = total amount - principal amount = $6418.07 - $5000 = $1418.07
Which is near about $1420 so option (D) will be correct answer