Jason deposits $5000 in a bank that pays 4% simple interest annually. if he dont deposits no more than $5000, how much will be in the account at the end of 5 years?

I=PRT

Interest=Principal * Rate * Time

Question

30 October, 00:25

+2

Answers (1)

Know the Answer?

Aurora Harrell · Answer 1

6089.34

Step-by-step

A=p (1+r) ^t

4%=.04

$5000 (1+.04) ^5

then boom you got your answer

Jason deposits $5000 in a bank that pays 4% simple interest annually. if he dont deposits no more than $5000, how much will be in the account at the end of 5 years?I=PRTInterest=Principal * Rate * Time