Anonymous Anonymous

01-12-2016
Mathematics

Answered

You invest $5,000 in a savings account that earns 6% interest each year.

AHow much money do you have in your savings account after the first year?

BHow much money do you have in your savings account after the second year?

Verified Answer :

MatCauthon MatCauthon

01-12-2016

AMultiply $5000 by .06, and add it back to $5000 to get the total after one year. This is $5300.
B. Multiply the new amount, or $5300 by .06, and add it back to $5300 to get the total after 2 years. This is $5618.

A. $5300
B. $5618

Answer Link

Related Questions

The price of a pair of headphones is 3999 before tax Dalton bought the headphones for 30 off He then paid 6 sales tax on the discounted price Part A How much di

By installing efficient water fixtures the average American can reduce water use to about 45 gallons of water per day Using such water fixtures about how many g

an insect in Amber is an example of

In A Celebration of Grandfathers the writer describes his grandfather as connected to the cycles that brought the rain or kept it from us What does this descrip

How does the watergate scandal relate to the concept of separation of powers in the united states

vwho created the colony of georgia as a haven for english debtors Alord Baltimore Bking charles 1 Cjames oglethorpe Dnathaniel bacon

Which organizations would most likely work directly to reduce child mortality rates Check all that apply

I start with the letter e I end with the letter e I contain only one letter Yet I am not the letter e What am I

Need some English help If you have read the story Cranes please help me with answer Thank you so much In Cranes Songsams memory of the old man with the chestnut

Food contains however some food is a betterricher source than others

Web Analytics