A principal of $5,350 is placed in an account that earns 3.5% interest. If the interest is compounded annually, how much money will be in the account at the end of 4 years? a. $5,760.06 b. $5,537.25 c. $6,099.00 d. $6,139.25

Question and answer

$6,099.00 will be in the account at the end of 4 years. $5,350 + ($5,350 * 3.5/100) * 4 = $6,099.00

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Asked 6/23/2016 10:09:38 AM

Updated 6/23/2016 10:28:22 AM

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This answer has been confirmed as correct and helpful.

Edited by jeifunk [6/23/2016 10:28:21 AM], Confirmed by jeifunk [6/23/2016 10:28:22 AM]

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