Question

You deposit $200 into a savings account. The savings account pays 1% interest per year. If you keep that money in there for 5 years, how much will the account be worth when you cash out? (Round to the nearest hundredth, and don’t forget the $ in front)

Answer 1

Is this a test or quiz?

Answer 2

No Homework

Answer 3

Welcome to Question Cove.
does it say what the initial balance was?

Answer 4

No, but im guessing 200$

Answer 5

The final balance is $210.25.
The total compound interest is $10.25.

Answer 6

Thank you