Question

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

Answer 1

6089.34

Step-by-step

A=p(1+r)^t

4%=.04

$5000(1+.04)^5

then boom you got your answer