Answer:
B. $5039.58
Step-by-step explanation:
compound interest formula: amount = p(1 + \frac{r}{n})^{nt}
p= principal ($2,300)
r= interest rate as a decimal (4% = 0.04)
n= number of times the principal is compounded per year (annually = onceper year so 1 time per year)
t= time in years (20 years)
new equation: amount = 2300(1+\frac{0.04}{1} )^{1*20}
That equation equals $2,739.58 which you add to the principal.
$2,739.58 + $2,300 = $5039.58
hope this helps :)
The least common denominator for the question you have supplied me with is 10. The least common multiple of the denominators, 5 and 10, is 10, making the LCD 10.
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Could help if you showed the rest of the table
Addition is needed because of the subtraction sign.
