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An employee put $10.000 in a retirement
account that offers 4%, interest
Compounded annually.
The employee makes no additional deposits or
withdrawals. Which amount is closest to the interest
the employee will have earned at the end of 12 years?

An employee put 10000 in a retirement account that offers 4 interest Compounded annually The employee makes no additional deposits or withdrawals Which amount i class=

Respuesta :

Technicality

Answer:

Interest earned after 12 years is $48,000.

Step-by-step explanation:

The first step is to find 4% of 10,000

10,000 times .4 equals to 4,000

4% of 10,000 is 4,000

So each year, $4,000 is added

Times $4,000 by 12 years and you will have the total interest earned.

In case you need to know, the total amount of the bank account should be $58,000.

I hope this helps! :)

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