Question

You put $250 in an account that earns 4% interest per year. What is the balance of the account after 5 years?

Answer 1

250(1.04)^5= $304.16 after 5 years will be the balance of the account

Explanation:

Answer 2

Answer:300

Explanation:

Each year, the interest is 250 * 4% =10. For 5 years, it would be 50. Thus, our balance is 250 + 50= 300