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How much money will be withdrawn from a savings account in 16 months if the initial deposit was $4.625 and the account earns 5.0% interest?

How much money will be withdrawn from a savings account in 16 months if the initial deposit was $4.625 and the account earns 5.0% interest?
asked 158k views
2 votes
How much money will be withdrawn from a savings account in 16 months if the initial deposit was $4.625 and the account earns 5.0% interest?

asked
User Pavel Tiunov
by
8.2k points

1 Answer

5 votes

4625+(4625*0.05*16)
4625+3700
=8325

$8.325

answered
User BenL
by
8.4k points
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