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Gene invested $400 at 4% interest compounded annually. How much is in the account after 1 year? $416.00 $540.00 $816.00 $804.00
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1 vote
Gene invested $400 at 4% interest compounded annually. How much is in the account after 1 year?

$416.00 $540.00 $816.00 $804.00

User Tehras
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1 Answer

4 votes
A = P(1 + r)^t
A = 400(1 + .04)^1
A = $416
User Artem Bilan
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9.1k points
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