PLS HELP DUE IN 1 HOUR WILL GIVE BRAINLIEST THANKS AND 5 STARSSS!!!
1 answer:
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Answer:
$57,369
Step-by-step explanation:
We have been given that an amount of $53,000 is placed in an investment account that grows at a fixed rate of 2% (compound growth) per year. We are asked to find the amount in the account after 4 years.
To solve our given problem we will use compound interest formula.\
, where,
A = Final amount after t years,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.
Let us convert our given rate in decimal form.
Upon substituting our given values in compound interest formula we will get,
Therefore, an amount of $57,369 will be in the account after 4 years.
Answer:
Step-by-step explanation:
n = 25
33+n = 33+25 = 58
n/5 = 25/5 = 5