Question

Arlo invested $4000 in an account that earns 5.5% interest, compounded annually. The formula for compound interest is A(t) = P(1 + i) t . How much did Arlo have in the account after 4 years? A. $4660.00 B. $23,088.03 C. $4955.30 D. $16,880.0

Answer 1

Answer:Amount = 10,002.21

Step-by-step explanation:4 x 5 = 20 times

2.-

Principal = 5,000

Interest rate per yr = 3%

Compounded times per yr = 4

Time in years = 5

The formula is amt = p*(1 + r/n) ^ (n*t),

thus

Amount = 5,805.92

3.-

If Time in years = 23.2

then

Amount = 10,002.56

4.-

Principal = 5,000.00

Interest rate per yr = 5.82%

Compounded times per yr = 4

Time in years = 12