anonymous
  • anonymous
5. Find the balance in the account to the nearest whole dollar: $2,500 principal earning 3%, compounded annually, after 4 years a. $2,575 b. $2,731 c. $2,814 d. $3,350
Algebra
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anonymous
  • anonymous
5. Find the balance in the account to the nearest whole dollar: $2,500 principal earning 3%, compounded annually, after 4 years a. $2,575 b. $2,731 c. $2,814 d. $3,350
Algebra
jamiebookeater
  • jamiebookeater
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At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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sweetburger
  • sweetburger
there is a equation usually for these types of questions do u happen to know it?
anonymous
  • anonymous
A(4) = 2500(1+(0.03/4))^(3*4)? @sweetburger
sweetburger
  • sweetburger
A=P(1+r/n)^nt so if the interest is compounded annually its only compounded once a year meaning n=1 i believe

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sweetburger
  • sweetburger
so A=2500(1+.03/1)^(1*4) I think this would get the complete correct answer
anonymous
  • anonymous
Thank you! c:

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