Write 850 as the product of its prime factors. A. 17 × 50 B. 5 × 10 × 17 C. 10 × 85 D. 2 × 5 × 5 × 17
2 answers:
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Answer:
$57,369
Step-by-step explanation:
We have been given that an amount of $53,000 is placed in an investment account that grows at a fixed rate of 2% (compound growth) per year. We are asked to find the amount in the account after 4 years.
To solve our given problem we will use compound interest formula.\
, where,
A = Final amount after t years,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.
Let us convert our given rate in decimal form.
Upon substituting our given values in compound interest formula we will get,
Therefore, an amount of $57,369 will be in the account after 4 years.