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24 February, 16:00

Pat earns 4% in his bank account each

year. He has $2,400 in his account. How

much will he have in 5 years if he does not

make any more deposits?

A. $12,480.00

B. $12,907.78

C. $2,919.97

D. $2,457.60

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Answers (1)
  1. 24 February, 16:57
    0
    C. $2919.97

    Y1 $2400 x. 04 = 96

    Y2$2496 x. 04 = 99.84

    Y3$2595.84 x. 04 = 103.86

    Y4$2699.67 x. 04 = 107.99

    Y5$2807.66 x. 04 = 112.31 = Total $2919.97
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