Answer:
if the bank removes 4percent of what ever he has in his account every year for 5 years the first year would be
$500 of 4 percent which is$20
to get the amount of the first year we deduct $20 from $500 which is 480 this is for the first year.
for the second year we do the same thing by finding 4percent of $480
which is 19.2 when we deduct this from $480 we get
$460.8
the third year
$460.8 of 4 percent =18.432
we deduct it from $460.8=$442.368.
the fourth year
442.368 of 4 percent=17.69472
deduct it from 442.368=$424.67328.
the fifth year
424.67328 of 4 percent=16.9869312.
deduct it from 424.67328=$407.6863488.
ROUNDED TO THE NEAREST CENT IS=$407.70.
hope this helps.
