Ask Question
5 March, 12:58

Teresa deposits $6000 into a bank account that pays 2% every year. how much interest will be paid in the first 4 years?

+1
Answers (1)
  1. 5 March, 13:00
    0
    60. Terese deposited $6 000 into a bank account that pay 2% every year How much will she earn if for the first 4 years: = > First Year 6 000 x 0.02 = > 120 = > 6 000 + 120 = 6 120 = > Second Year the money is 6 120 = > 6 120 *.02 = 122.4 = > 6 120 + 122.4 = > 6 242.4 = > For the third year the money is 6 242.4 = > 6 242.4 x 0.02 = 124.848 = > 6 242.4 + 124.848 = > 6 367.248 = > And for the 4th year = > 6 367.248 *.02 = 127.34 = > 6 494.6 So his money will be 6 494.6 dollars.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Teresa deposits $6000 into a bank account that pays 2% every year. how much interest will be paid in the first 4 years? ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers