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miv72 [106K]
3 years ago
15

Brody deposited $500 into an account that earns 4.2% interest compounded annually. He makes no additional deposits and no withdr

awals. How much interest will the account have earned after 7 years?
A $167
B $420
C $542
D $665

Explain correctly. No nonsense, please.

Thank you
Mathematics
1 answer:
zaharov [31]3 years ago
8 0
The answer is A $ 167

I=pr^t-p
I=500(104.2/100)^7-500
I=500(1.042^7-1)
I=$167.00 to nearest dollar
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