Question

Invest 5000 for 5 years at 5% interest rate

Answer 1

$6,250

Explanation:

5% of 5000 = .05 x 5000 = 250 this finds the amount gained per year

250 x 5 = 1,250 this is the amount earned over 5 years

5000 + 1250 = 6,250 this is the total after 5 years.

Hope this helps!