Question

on a deposit of $4,000 that earns 8% compound interest compounded annually how much will you have after 2 years​

Answer 1

`\bf ~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+(r)/(n)\right)^(nt) \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$4000\\ r=rate\to 8\%\to (8)/(100)\dotfill &0.08\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\dotfill &1\\ t=years\dotfill &2 \end{cases} \\\\\\ A=4000\left(1+(0.08)/(1)\right)^(1\cdot 2)\implies A=4000(1.08)^2\implies A=4665.6`