How Much Will Adam Have After 5 Years of Deposits?

  • MHB
  • Thread starter Abdullah Qureshi
  • Start date
In summary, Adam will have \$5000 in the bank after 5 years by putting \$1000 at the end of each year with no interest.
  • #1
Abdullah Qureshi
16
0
Adam puts \$1000 in the bank at the end of each year for 5 years?

rate is not giving nor inertest.

how to slove this
 
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  • #2
Abdullah Qureshi said:
Adam puts \$1000 in the bank at the end of each year for 5 years?

rate is not giving nor inertest.

how to slove this

That statement is not a question. Solve what?
 
  • #3
So 5x1000?
 
  • #4
So far Abdullah Qureshi has only put a question mark at the end of a statement. There is no question!

IF the question is "How much money will there be after 5 years?" then, yes, after 5 years, putting in \$1000 each year with no interest, there will be 5x \$1000= \$5000.
 

FAQ: How Much Will Adam Have After 5 Years of Deposits?

How much money does Adam have in the bank after putting $1000 in?

Adam now has $1000 in the bank.

What type of bank account did Adam put the money into?

The type of bank account is not specified in the statement. It could be a savings account, checking account, or any other type of account.

What is the interest rate on Adam's bank account?

The interest rate on Adam's bank account is not mentioned in the statement. It could vary depending on the type of account and the bank.

How long will it take for Adam's money to double in the bank?

This depends on the interest rate and compounding frequency of the bank account. Without this information, it is not possible to determine how long it will take for Adam's money to double.

Can Adam withdraw the money from the bank at any time?

As long as the money is in a liquid account, such as a checking or savings account, Adam should be able to withdraw the money at any time. However, if the money is in a fixed-term account, there may be penalties for early withdrawal.

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