This is pretty simple the first one is the second option the second one is the third option the third one is the third option and the fourth one is the first option
Answer:the balance after 7 years is $3216
Step-by-step explanation:
A) Initial amount deposited into the account is $2800 This means that the principal,
P = 2800
It was compounded yearly. This means that it was compounded once in a year. So
n = 1
The rate at which the principal was compounded is 4%. So
r = 4/100 = 0.04
It was compounded for 7 years. So
t = 7
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount in the account at the end of t years. Therefore
A = 2800(1 + 0.04/2)^ 1× 7
A = 2800(1 + 0.02)^7
A = 2800(1.02)^7
A = $3216
Answer:
27
Step-by-step explanation:
because 6×4 is 24 and 24+3 =27
