Question

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

Answer 1

Do you know what formula to use ?

Answer 2

no

Answer 3

P=4000.00
r=0.05
t=1
n=4
M=P(1+(r)/(n))^(n*t)

Answer 4

I'm taking the same class -.-

Answer 5

M=4000.00(1+(0.05)/(1))^(4*1)

Answer 6

I got my answer :) what did you get ? copy and paste into here http://www.wolframalpha.com/

Answer 7

yeah, still on it

Answer 8

thanks

Answer 9

Your welcome :D