ramsla29
Answered

An account with an initial balance of $4000 earns 6.5% interest for 5 years.

What is the ending balance?

Enter your answer in the box.

Answer :

The ending balance is $5,480.

Given that,

  • The initial balance is $4,000.
  • The rate of interest is 6.5%.
  • And, the time period is 5 years.

Based on the above information, the calculation is as follows:

[tex]= \$4,000 \times (1 + 0.065)^5[/tex]

= $5,480

Therefore, the ending balance is $5,480.

Learn more: brainly.com/question/16115373

Other Questions