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21 June, 23:06

Ella has $50,000 is a saving account. The savings collect interest at an 8% annual rate that compounds every year. How much money will be in Ellas account after 5 years?

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  1. 21 June, 23:21
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    210000$

    Step-by-step explanation:

    1st we find the SI which will be P*R*T/100=50000*8*5/100

    =32000

    32000 will be added per year

    32000*5=160000 for 5 years

    160000+50000=210000$
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