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Walker invests $4,200 in a savings account earning 8% interest compounded yearly. What will the account balance be after 7 years?

Walker invests $4,200 in a savings account earning 8% interest compounded yearly. What will the account balance be after 7 years?
asked 1.0k views
4 votes
Walker invests $4,200 in a savings account earning 8% interest compounded yearly. What will the account balance be after 7 years?

asked
User Kevin Kibler
by
7.5k points

2 Answers

4 votes
the answer will be $7198
answered
User Nathan Strutz
by
8.1k points
5 votes

Answer:

2,562

Explanation:

8% of 4,200 is 366, 366×7=2,562

Hope This Helps!

answered
User Predictor
by
8.2k points
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