jennanielsen5 jennanielsen5
  • 09-01-2018
  • Mathematics
contestada

Find the balance in the account. $800 principal earning 7%, compounded annually, after 4 years

Respuesta :

philipscaster83
philipscaster83 philipscaster83
  • 09-01-2018
800×(1.07)^(4) =1,048.63
Answer Link
altavistard
altavistard altavistard
  • 09-01-2018
Use the compound amount formula:  A = P (1+r)^t

Here,

A = $800 (1+0.07)^4  = $800 ( 1.31) = $1048.64 (rounded off to the nearest cent)
Answer Link

Otras preguntas

Lily is going to invest in an account paying an interest rate of 5.6% compounded continuously. How much would Lily need to invest, to the nearest cent, for the
Dialogue de chaperon rouge
What is the area of this quadrilateral A. 42 square feet B. 30 square feet O C. 36 square feet D. 12 square feet​
bats vs skunks. Who will win?
Which government poster is directly related to the civil rights act of 1964?.
John earns an 8% commission for each television he sells. If John sells a television for $700, how much commission will he earn?
30 points please help me out on these questions
The day the dam broke Genre
Religion Promotes Obscurantism
Where are the Andes Mountains located? O central Mexico O eastern Guatemala O northern Texas O western South America