Question

Question 16 of 50

Jayden received a bonus check from his work for $6,000. He is going to deposit the money into a bank account that receives 5% compounded annually.
The amount of interest earned after year 5 is:
O $7,657
O $8,421
O $7,300

Answer 1

Equation:

y=6,000(1.05)^5

Answer:
7657