SOLUTION: I deposit 2800 at 4% for 1 year how much will I earn at the end of year? what would be my account balance at end of year?
Algebra.Com
Question 550937: I deposit 2800 at 4% for 1 year how much will I earn at the end of year? what would be my account balance at end of year?
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
I deposit 2800 at 4% for 1 year how much will I earn at the end of year?
Since it is for just one year, just multiply
I = .04(2800)
I = $112 earned in 1 yr
:
what would be my account balance at end of year? add the interest to the principal
2800 + 112 = $2912
RELATED QUESTIONS
deposits 5850 at a 2% for 1 year how much interest will he earn ? what is the account... (answered by rfer)
"If you deposit $100 in a savings account, and earn 4% interest this year, how much money (answered by stanbon)
4. You are planning to deposit $15,000 into a bank account at the end of each year for 5... (answered by Theo)
if i deposit 200 $ in a cd account for one year and i get risk free 4% interest rate how... (answered by rfer)
1) A retiree invests $3,000 in a savings plan that pays 3% per year. What will the... (answered by rfer)
you plans to deposit $400 at the end of each year for 2 years, $200 at the end of next... (answered by Theo)
1)Suppose you invest $150 at the end of each month for 6 years into an account earning 6% (answered by ikleyn)
1 A person wishes to deposit $5,000 per year in a savings account which earns interest of (answered by ikleyn)
You deposit $1000 at the end of each year into an account earning 4% interest compounded... (answered by ikleyn)