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butalik [34]
2 years ago
6

Kesha deposits $1000 into a savings account earning 6% interest each year. She makes no further deposits to the account. What is

the balance after 5 years?
Mathematics
1 answer:
kodGreya [7K]2 years ago
6 0

Answer:

1000*1.06^{5}  = 1 338.2255776 $ $

~ 1 338 $

Step-by-step explanation:

The 6% interest earning: 1 + 6 / 100 => 1.06

Since she doesn't make any transactions on the account, at the end of 5 years she'll have: 1000*1.06^{5}  = 1 338.2255776 $

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