For the investment with interest compounded annually, find the final balance using the formula A = P(1 + r)t

$36,000 for 4.5 years at 3%

A.
$37,080.00

B.
$40,860.00

C.
$41,121.60

D.
$117,232.38

Question

For the investment with interest compounded annually, find the final balance using the formula A = P(1 + r)t 

$36,000 for 4.5 years at 3%

  A. 
  $37,080.00   
   

 
 

  

  B. 
  $40,860.00   
   

 
 

  

  C. 
  $41,121.60   
   

 
 

  

  D. 
  $117,232.38

anonymous · Answer

just hit the key on calculator, why don't you do it?

anonymous · Answer

A = $ 40,860.00.. but seriously dude all you needed to do was plug in the info to the formula. lol

anonymous · Answer

I did that but kept getting the wrong answer thx :)

anonymous · Answer

check your formula, please.

anonymous · Answer

what OOPS said.. the formula you posted is different then the one you need. 

A = P(1 + rt) 
and yes.. there is a difference