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CaHeK987 [17]
3 years ago
8

I need helpppp with the answers

Mathematics
1 answer:
Anarel [89]3 years ago
6 0
I’m still year 8 lol
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katen-ka-za [31]

Answer:

B. $5039.58

Step-by-step explanation:

compound interest formula: amount = p(1 + \frac{r}{n})^{nt}

p= principal ($2,300)

r= interest rate as a decimal (4% = 0.04)

n= number of times the principal is compounded per year (annually = onceper year so 1 time per year)

t= time in years (20 years)

new equation: amount = 2300(1+\frac{0.04}{1} )^{1*20}

That equation equals $2,739.58 which you add to the principal.

$2,739.58 + $2,300 = $5039.58

hope this helps :)

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