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14-12-2021
Mathematics

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Kesha deposits $1000 into a savings account earning 6% interest each year. She makes no further deposits to the account. What is the balance after 5 years?

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14-12-2021

Answer:

[tex]1000*1.06^{5} = 1 338.2255776 $[/tex] $

~ 1 338 $

Step-by-step explanation:

The 6% interest earning: 1 + 6 / 100 => 1.06

Since she doesn't make any transactions on the account, at the end of 5 years she'll have: [tex]1000*1.06^{5} = 1 338.2255776 $[/tex]

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