Questions 1-5. Bryan invests $500 in an account earning 4% interest that compounds annually. If he makes no additional deposits or withdrawals, how much will be in the account:

After 20 years?

(round to the hundredths place)

500* 1.04^20

To calculate the future value of an investment with compound interest, you can use the formula:

FV = PV * (1 + r/n)^(nt)

Where:
FV = future value
PV = present value
r = annual interest rate (as a decimal)
n = number of times interest is compounded per year
t = number of years

In this case:
PV = $500
r = 4% = 0.04 (as a decimal)
n = 1 (compounded annually)
t = 20 years

Plugging in the values into the formula:

FV = $500 * (1 + 0.04/1)^(1*20)
FV = $500 * (1 + 0.04)^20
FV = $500 * (1.04)^20
FV ≈ $500 * 1.8564
FV ≈ $928.20

Therefore, after 20 years, there will be approximately $928.20 in the account.

To calculate the future value of an investment with compound interest, you can use the formula:

\[ FV = P \times (1 + r)^n \]

Where:
- FV stands for the future value of the investment
- P is the initial principal (or the initial investment amount)
- r is the interest rate per compounding period
- n is the number of compounding periods

In this case, Bryan invests $500 at an interest rate of 4%, compounding annually. Therefore:
- P = $500
- r = 4% = 0.04 (expressed as a decimal)
- n = 20 years

Plugging these values into the formula, we get:

\[ FV = 500 \times (1 + 0.04)^{20} \]

Calculating this equation will give us the future value of Bryan's investment after 20 years.

Now, let's solve it step by step:

\[ FV = 500 \times (1.04)^{20} \]

Using a calculator or a spreadsheet, proceed with the exponentiation:

\[ FV = 500 \times 1.838485 \]

Finally, multiply:

\[ FV = 919.24 \]

Hence, after 20 years, there will be approximately $919.24 in Bryan's account.