Ammy01453 Ammy01453

07-10-2020
Mathematics

contestada

Question
Tom's bank account earns 6% simple interest per year. If Tom deposits $600 and then does not make any additional
deposits or withdrawals, what will the balance on the account be after 5 years?
Round your answer to the nearest dollar.
Provide your answer below:

Respuesta :

TheMansTired TheMansTired

07-10-2020

With the interest rate his bank account will grow $36 dollars each year which after fiver years is $180 so the amount in the end will be $780

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