Question

Please help ASAP 20+ points, Only answer if you know!!

Answer 1

$25,525.63

Explanation:

A=P(1+r/n)^nt

A = final amount

P= initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

A = (20,000)(1+0.05/1)^5

Answer 2

Answer: $25,525.63

Explanation:

A = P(1 + r/n)^(n*t)

A = 20,000(1 + 0.05/1)^(1*5)

A = 20,000(1 + 0.05)^5

A = 20,000(1.27628)

A = $25,525.63