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How much interest would $5,000 earn in one year at a rate if 5% compounded annually? what would be the new balance

How much interest would $5,000 earn in one year at a rate if 5% compounded annually? what would be the new balance
asked 85.0k views
4 votes
how much interest would $5,000 earn in one year at a rate if 5% compounded annually? what would be the new balance

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User Lukas S
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7.9k points

2 Answers

5 votes
In one year $5000 at an interest rate of 5% would earn $250 and the new balance would $5250
answered
User Matei Florescu
by
8.2k points
12 votes
The answer would be $5,250

You would do 5,000 x 0.05 = x
answered
User Pjmanning
by
8.0k points
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