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hen2 hen2
  • 07-02-2015
  • Mathematics
Answered

jason deposits $5,000 in the bank that will pay him 4% simple interest annually if jason deposits no more than the initial $5,000 how much money will be in the account at the end of five years?

Verified Answer :

jordynncarpenter
jordynncarpenter jordynncarpenter
  • 07-02-2015

At the end of 5 years, $6,000 will be in Jason's account.

4%=0.04
\(5000*0.04=200 \\ 200*5=1000 \\ 1000+5000=6000\)

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