Question

I need help with my homewrok PLEASE CHECK WORK number 9

Answer 1

The formula to use is,

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

Given

`\begin{gathered} P=\text{ \$2500}=Now \\ A=Next \\ r=4\%=(4)/(100)=0.04 \\ n=1,t=1 \end{gathered}`

Therefore,

`\begin{gathered} Next=Now(1+(0.04)/(1))^(1*1)=Now(1+0.04)=Now(1.04) \\ \therefore Next=Now*1.04 \end{gathered}`

Hence, the answer is

`Next=Now*1.04\text{ \lparen Option C\rparen}`