OpenStudy (anonymous):

A principal of $400 is invested in an account at 6% per year compounded annually. What is the total amount of money in the account after 5 years? A. $526.00 B. $531.37 C. $535.29 D. $520.00

2 years ago
OpenStudy (anonymous):

@Brill

2 years ago
OpenStudy (tkhunny):

Have you considered calculating the value? 400.00 * 1.06 = 424.00 -- There's the end of the 1st year. Go!

2 years ago
OpenStudy (anonymous):

535.29?

2 years ago
OpenStudy (tkhunny):

You tell me. How did you arrive at this value? See how neatly I demonstrate my result? Do that.

2 years ago
OpenStudy (anonymous):

yes i kept timesing 1.06 5 times

2 years ago
OpenStudy (anonymous):

thank you

2 years ago
OpenStudy (tkhunny):

Don't do that. \(400.00\cdot 1.06^{5}\) - Please. Try the exponent. "timesing" is not a word.

2 years ago
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