The balance after one year is $5200
Step-by-step explanation:
The formula to apply here is
where
A=Amount of money at the end of the period=?
P=the amount of money invested= $5000
r=rate of interest=4%=0.04
n=number of compounding per year=1
t=time in years=1
Applying the formula
A=$5200
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Compound Interest: brainly.com/question/12148233
Keywords : interest, compounded annually
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