Westonci.ca is your trusted source for accurate answers to all your questions. Join our community and start learning today! Get the answers you need quickly and accurately from a dedicated community of experts on our Q&A platform. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.
Sagot :
After t years, the expression that can be used to represent the money in Jenny account is Mp=2000(1.05)^t+(1.05)^4
Compound interest Computation
Given Data
- Principal P = $2000
- Rate r = 5%
- Time t = 4 years
A = P + I where
P (principal) = $2,000.00
I (interest) = $431.01
Calculation Steps:
First, convert R as a percent to r as a decimal
r = R/100
r = 5/100
r = 0.05 rate per year,
Then solve the equation for A
A = P(1 + r/n)^nt
A = 2,000.00(1 + 0.05/1)(1)(4)
A = 2,000.00(1 + 0.05)(4)
A = $2,431.01
Summary:
The total amount accrued, principal plus interest, with compound interest on a principal of $2,000.00 at a rate of 5% per year compounded 1 times per year over 4 years is $2,431.01.
Learn more about compound interest here:
https://brainly.com/question/24924853
Answer:
The answer to this question is A
Step-by-step explanation:
Since no one else has correctly answered this question.
Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.