jennanielsen5 jennanielsen5

09-01-2018
Mathematics

contestada

Find the balance in the account. $800 principal earning 7%, compounded annually, after 4 years

Respuesta :

philipscaster83 philipscaster83

09-01-2018

800×(1.07)^(4) =1,048.63

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altavistard altavistard

09-01-2018

Use the compound amount formula: A = P (1+r)^t

Here,

A = $800 (1+0.07)^4 = $800 ( 1.31) = $1048.64 (rounded off to the nearest cent)

Answer Link

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