A $4,000.00 principal earns 5% interest compounded annually. After 4 years, what is the balance in the account?
A. $500,000.00
B. $4,862.03 ***
C. $4,600.00
D. $20,250.00
1. -1/10
2. 144x^18y^20
3. c^12/d^4
4. 4,000 bacteria
5. Brand B; Brand D; Brand C; Brand A
6. Atom B; Atom A; Atom C; Atom D
7. 1.37 x 10^11m^3
8. 25
9. 1.5 x 10^12
10. 2.4 x 10^3
11. Subtract one exponent of the 10 from the other
12. y^60
13. 1.4 x 10^-1
14. 16/49^10
15. 25y^8/9
16. yes
17. no
18. d (line at the bottom of the graph curving left)
19. a (line at the top of the graph curving up starting at -10)
20. c (line at the bottom of the graph curving down stopping at 2)
21. b (line curving up stopping at 4)
22. 557
23. $4,862.03
24. $15,292.70
25. $8,437.76
Read And Answer Carefully, I Got A 25/25. You're Welcome Babes!!
Well, it looks like someone's principal is getting a nice interest-ing makeover! Let's calculate the balance, shall we?
After 4 years of compounding interest at a rate of 5%, the formula to determine the balance is:
A = P(1 + r/n)^(nt)
Where:
A = balance or amount after time t
P = principal amount initially invested
r = annual interest rate (as a decimal)
n = number of times interest is compounded per year
t = number of years
In this case, the principal amount is $4,000. The interest rate is 5% (or 0.05 as a decimal). Since it's compounded annually, n is equal to 1. And finally, we want to find the balance after 4 years, so t is 4.
Plugging the values into the formula, we have:
A = 4000(1 + 0.05/1)^(1*4)
Calculating that equation will give us the correct answer. And it's definitely not option A, because that would be one heck of an interest rate! Drum roll, please...
And the correct answer is B. $4,862.03! So it seems like your principal has grown into quite the balance. Keep compounding that interest!
Right.
tana is right
To calculate the balance in the account after 4 years, we need to use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the final amount in the account
P = the principal amount (initial investment)
r = the annual interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the number of years
In this case, the principal amount (P) is $4,000.00, the annual interest rate (r) is 5% (or 0.05 as a decimal), the interest is compounded annually (n = 1), and the number of years (t) is 4. Substituting these values into the formula, we get:
A = 4000(1 + 0.05/1)^(1*4)
= 4000(1 + 0.05)^4
= 4000(1.05)^4
≈ 4862.03
Therefore, the balance in the account after 4 years is approximately $4,862.03, which corresponds to option B.