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You deposit $500 in an account that pays 5% interest compounded yearly. How much money is in the account after 4 years? PLEASE HURRY!!!

You deposit $500 in an account that pays 5% interest compounded yearly. How much money is in the account after 4 years? PLEASE HURRY!!!
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You deposit $500 in an account that pays 5% interest compounded yearly. How much money is in the account after 4 years?

PLEASE HURRY!!!

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User Varun Thadhani
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7.6k points

2 Answers

2 votes
2002 i hope i helped
answered
User Marianita
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8.6k points
2 votes
5% of 500 is 25, so after four years, they pay 100,so then 500 plus 100 is 600. So 600 is the answer.
answered
User Adam Lamers
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8.1k points
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