Question

Correct answer only please!

To the nearest cent, how much will she have in 5 years?

Use the formula B = p(1 + r)t, where B is the balance (final amount), p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.

Answer 1

Answer: 7633.31

Work Shown:

B = p*(1+r)^t

B = 4530*(1+0.11)^5

B = 7,633.313442603 approximately

B = 7633.31                  round to the nearest cent