If Sarah deposited $5,000 today in an account earning 6%, what is the balance after 5...

 

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If Sarah deposited $5,000 today in an account earning 6%, what is the balance after 5 years, if she withdrew $2,750 at the end of 3rd year? If the answer is a dollar value then enter the number without any comma, without $ sign, without any gap, and with 2 decimal digits, for example, -5896547.12 If the answer is a % then enter the number with 3 decimal digits followed by a % sign without any gap, for example 3.123% or 4.210% If Sarah deposited $5,000 today in an account earning 6%, what is the balance after 5 years, if she withdrew $2,750 at the end of 3rd year? If the answer is a dollar value then enter the number without any comma, without $ sign, without any gap, and with 2 decimal digits, for example, -5896547.12 If the answer is a % then enter the number with 3 decimal digits followed by a % sign without any gap, for example 3.123% or 4.210%

Answer rating: 100% (QA)

To calculate the balance after 5 years we need to consider the interest earned on the initial deposi... View the full answer