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5) Tess deposited $500 in an account that earns 6% annual simple interest. She leaves the money in the account for 4 years. What will be the balance If Tess makes no withdrawals…

5) Tess deposited $500 in an account that earns 6% annual simple interest. She leaves the money in the account for 4 years. What will be the balance If Tess makes no withdrawals…
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5) Tess deposited $500 in an account that earns 6% annual simple interest. She leaves the money in the account for 4 years. What will be the balance If Tess makes no withdrawals or deposits to the account? *

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User FireFoxII
by
8.4k points

1 Answer

3 votes

Answer: $620

Explanation:

500 + 6

500 • 0.06 = 30

30 • 4 = 120

120 + 500 = 620

$620

answered
User Kazeem
by
7.3k points
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