Question

how much money will 5,000 dollars turn into after adding 3.2% compound annually for 5 years

Answer 1

@518nad

Answer 2

@.Sam. @Elsa213 @misty1212 @Jadeishere @Nnesha @triciaal

Answer 3

I = P x R x T
P (principal amount) $5000.00.
r (rate of growth) 3.2% per year (0.032)
t is 5 year(s) time periods.

To find the simple interest, we multiply 5000 × 0.032 × 5
interest = $160.00
interest after 5 years =$800.00

5000.00 + 800.00 = 5800.00