<h3>
Answer: 1034.44 dollars</h3>
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Work Shown:
A = P*(1+r/n)^(n*t)
A = 1000*(1+0.0085/1)^(1*4)
A = 1034.43596172007
A = 1034.44
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Notes:
- P = 1000 is the deposit or principal
- r = 0.0085 is the decimal form of the annual interest rate of 0.85%; we can say 0.85% = 0.85/100 = 0.0085
- n = 1 represents how many times per year we're compounding the money (ie annually)
- t = 4 = number of years
- The result of 1034.44 dollars is only possible if you do not withdraw any of the money in the four year time period.
Answer:
Hope this will help you and hope you understand my handwriting
Answer:
You are correct, it is C.
But you're already done....
