Answer:
0.66, 2.39
Step-by-step explanation:
two decimal places look like this. Ex: (4.74)
This deals with exponential growth.
house value = 20,000 * (1.05)^years
(where years is # of years from 1950 - so 1950 = 0, 1951 = 1, etc)
house value = 20,000 * (1.05)^65
house value = 20,000 *
<span>
<span>
<span>
23.8399005592
</span>
</span>
</span>
<span><span><span>house value = 476,798.01</span>
</span> </span>
<h3>The final amount is $ 6881.71</h3>
<em><u>Solution:</u></em>
<em><u>The formula for compound interest, including principal sum, is:</u></em>

Where,
A = the future value of the investment
P = the principal investment amount\
r = the annual interest rate in decimal
n = the number of times that interest is compounded per unit t
t = the time the money is invested
From given,
p = 4000
t = 5

n = 4 ( compounded quarterly )
<em><u>Substituting the values in formula,</u></em>

Thus the final amount is $ 6881.71