Maria invested $2000 in an account that earns 4.5% interest , compounded annually. The formula for compound interest is A(t) =P(

Question

4 years ago

6

1+l)×
How much did Maria have in the account after 5 years ?
A. $10,450.00
B. $2492.36
C. $2450.00
D. $12,819.47

2 answers:

ioda · Answer 1 · 2021-12-09T01:52:44+03:00

ioda4 years ago

8 0

Answer:

B. $2492.36

Step-by-step explanation:

We are given the formula for compound interest,

$A(t)=p(1+i)^x$ where p is the amount of principal, i is the interest rate and x is the number of years.

In our problem, p is 2000, i = 4.5% = 4.5/100 = 0.045, and x is 5:

$A(t)=2000(1+0.045)^x\\\\A(5)=2000(1.045)^5\approx 2492.36$

Mariulka [41] · Answer 2 · 2021-12-08T23:33:06+03:00

7 0

Answer:b

Step-by-step explanation: