SOLUTION: You deposit $265 in a bank account that offers 5% annual compounding interest. At the end of five years, what will my total earnings be?

SOLUTION: You deposit $265 in a bank account that offers 5% annual compounding interest. At the end of five years, what will my total earnings be?

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Question 951142: You deposit $265 in a bank account that offers 5% annual compounding interest. At the end of five years, what will my total earnings be?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=265(1.05)^5
FV=265(1.27628)
FV=$338.21
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