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You invest $5,000 in a savings account that earns 6% interest each year.
A. How much money do you have in your savings account after the first year?
















B. How much money do you have in your savings account after the second year?

Respuesta :

MatCauthon
A. Multiply $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

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