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An account earns 4% yearly compound interest. If you put $1500 in the account, what is the ending balance after 5 years A. $300.00 B. $1824.98 C. $324.98 D. $1800.00
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12 votes
12 votes
An account earns 4% yearly compound interest. If you put $1500 in the account, what is the ending balance after 5 years

A. $300.00
B. $1824.98
C. $324.98
D. $1800.00

User Rune Vejen Petersen
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2.8k points

2 Answers

6 votes
6 votes
Yeah it’s b. Right answer
User Adelia
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3.8k points
6 votes
6 votes

b

1500(1+(.04/1))^(1(5))

= 1824.979..

An account earns 4% yearly compound interest. If you put $1500 in the account, what-example-1
User Ryan Culpepper
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3.0k points
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