2 years ago

Find the balance in the account after the given period. $4000 principal earning 4% compounded annually, 5 years

1 answer:

AnnZ [28]2 years ago

8 0

I = P • R • T

= ( 4000 ) ( 0.04 ) ( 5 )

$ 800

NB = I + P

$ 800 + $ 4000
NB = $ 48000

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Find the balance in the account after the given period. ​$4000 principal earning 4​% compounded​ annually, 5 years