Question

An investment account earns 4% per year compounded annually. If the initial investment was $4,000.00, how much is the account after 3 years? Round your answer to the nearest dollar.

Answer 1

\[y=P(1+r)^x\]
You can use that equation where y is your total money, P is the initial amount in the account, r is the rate of change, and x is the number of years

So using that how can you set up your problem?

Answer 2

u-u i honestly don't know I'm not very good at Algebra its my worst subject

Answer 3

can i have this one

Answer 4

or try to at least

Answer 5

Well simply plug in stuff and multiply
So P is $4000 right? Because that's what you first put into the account

r is 4%, 4% in decimal form is .04 so r=.04

You want how much money there is in 3 years so x=3
Just plug it in and it is\[y=4000(1+.04)^3\] just find y and that's your amount

Answer 6

nevermind

Answer 7

Ooooo Thresh

Answer 8

Fellow league player i see

Answer 9

yee

Answer 10

landing max range q's on crappy adcs since 2013

Answer 11

Are you asking for the balance?


B = P(1+r)^t?

Answer 12

or the compound interest?

Answer 13

Im just trying to figure out the answer for this problem ;-; i have a tournament to go to in a few min x-x so i need to figure this out as soon as possible

Answer 14

is this investment when you reinvest the earnings into the next years investment?

Answer 15

if not then wouldn't you just multiply the $4,000 by 1.04

Answer 16

for every year

Answer 17

Hm maybe I'm honestly not sure :(

Answer 18

theres a variable in there somewhere but I'm not sure where

Answer 19

1.04^3.

1.04 x 1.04 x 1.04

Answer 20

ahh^^

Answer 21

correct

Answer 22

1.124864 x 4000 =

Answer 23

round your product, then drop a $ sign, (we used pemdas)

Answer 24

ill give you mu summoner name

Answer 25

Mk thresh my summoner name is VanguardPvP

Answer 26

supp
medal for medal? :)

Answer 27

Im still trying to figure out this answer x-x

Answer 28

Im honestly quite confused due to the fact i suck in algebra

Answer 29

where are you stuck?

Answer 30

soldier is me

Answer 31

$4,499.46


FORMULA: P(1 + RATE)^T

Answer 32

Is that the answer or do i need to do something to get the answer
?

Answer 33

PEMDAS.

PRINCIPAL, MEANING WHAT YOU ARE GETTING OR THE INVESTMENT. = P.

RATE, USUALLY THE PERCENT.

TIME = THE EXPONENT, USUALLY YEARS.

Answer 34

Sorry caps ;-;

Answer 35

All good :3

Answer 36

so $4,499.46 is the answer?

Answer 37

you know you can get a calculator right. -*-?

Answer 38

idk

Answer 39

I have a calculator but like i said algebra isn't my strong suit so i don't understand the steps ;=;

Answer 40

Yes. rounded total of balance. Just make sure you have to actually do balance instead of something else.

Answer 41

i added you on lol

Answer 42

okay thresh ill add you in a bit i got to go to a tournament
i just got to finish up this problem <3

Answer 43

Ok, steps are easy.

1: P, do what is within the parenthesis (if given, if not, skip this step).

2: E, Exponent, you do this second, if given, if not skip.

3: M - D, multiplication, dear, you multiply first, or divide, it doesn't matter.

4: A-S, same with this, addition subtraction.

Answer 44

Okay so $4,499.46 is the answer rounded to the nearest dollar?

Answer 45

Now, exaple:

(100 x 3)^3 + 8 =

1, plug in 100 x 3, which equals 300. (If using calculator.

2, then do 300^3, if you use scientific calculator, you can do this. Sometimes you can't, so just do 300 x 300 x 300 = 27000000. THEN ADD that by 8. Simple.

And to the nearest dollar, MEANING WHOLE.

Answer 46

Example*


Anyway,