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4. A savings account of $5,000 for 12 years, compounded at an annual interest rate of 6%.

4. A savings account of $5,000 for 12 years, compounded at an annual interest rate of 6%.
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2 votes
4. A savings account of $5,000 for

12 years, compounded at an annual
interest rate of 6%.

4. A savings account of $5,000 for 12 years, compounded at an annual interest rate-example-1
asked
User Christopher Orchard
by
8.6k points

1 Answer

4 votes
6 percent of 5000 is 300 so 300 times 12 is 3,600 so your final answer is 3,600
answered
User Mark Skelton
by
8.4k points
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