stal6ingKiki3 stal6ingKiki3

29-05-2016
Mathematics

Answered

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

$5000 for 5 years at 3.2%

A.

$5160.00

B.

$5852.86

C.

$20,037.32

D.

$25,800.00

Question Resources

Verified Answer :

Ckaranja Ckaranja

06-06-2016

B.
$5852.86

Working;
A = P(1 + r)^t
A=5000(1+\(\frac{3.2}{100}\))^5
A=5852.86

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