Problem: Suzy Wants To Save Money So She Can Buy A New Car In Five Years. If She Puts $400 A Month Into A Savings Account With A 6% Annual Interest Ra

Problem: Suzy wants to save money so she can buy a new car in five years. If she puts $400 a month into a savings account with a 6% annual interest rate, calculate the total savings she will have saved after the five years. Please show your math. I've started you on the right track.

 

Answer:


Step-by-step explanation:


5years=60


400*60=24000

24000*0.06=1440

24000+1440=25440


25440 is her saving after 5 years



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