Question

How much would $500 invested at 7% interest compounded annually be

worth after 4 years? Round your answer to the nearest cent.
nt
A(t)=P(1+r/n)^nt

A.$535.93
B.$661.56
C.$655.40
D.$640.00

Answer 1

655.40

Explanation:

500/100=5

5*7=35

535/100=5.35

5.35*7=37.45

Then you do that 2 more times