505,369 views
24 votes
24 votes
Guided Practice

Find the balance in the account.


$4000 principal earning 6% compounded annually, after 5 years


A.
$5352.90


B.
$4240


C.
$6872.20

User Matt Hyde
by
3.2k points

2 Answers

9 votes
9 votes

Answer:

A.

$5352.90

Explanation:

A=p(1+r)^t

A=4,000×(1+0.06)^(5)

A=5,352.90

...................................................

Answer:

The Final Investment Value is

Step-by-step explanation:

we know that

The compound interest formula is equal to

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest in decimal

t is Number of Time Periods

n is the number of times interest is compounded per year

in this problem we have

substitute in the formula above

User Steephan Selvaraj
by
2.5k points
20 votes
20 votes

Answer:

I guess it C.$6872.20

if not please forgive me

User Itaymendel
by
2.8k points