Answer:
$7,657.69
Step-by-step explanation:
To find this, use the interest formula:
[tex]A = P(1+r)^{t}[/tex]
A = final amount
P = principal amount ($6,000)
r = interest rate (5% or 0.05)
t = time (5 years)
Given this formula, we can plug in the information and find how much Aiden has after 5 years:
[tex]A = 6000(1+0.05)^{5}[/tex]
[tex]A = 6000(1.05)^{5}[/tex]
[tex]A = 7657.69[/tex]
Therefore, after 5 years Aiden will have $7,657.69.
I hope this helps! Good luck!
