Question

Problem 2: Emilia opened a savings account and deposited $400.00 as principal. The account earns 5% interest, compounded annually. What will be Emilia's balance after 6 years? I​

Answer 1

520 dollars

Explanation:

5 percent of 400 is 20, over 6 years you multiply 20 by 6 giving you 120. 400 plus 120 is 520