Answer:
$4594.74
Step-by-step explanation:
we will use the compound interest to solve-
a=p(1+r)^t
a=final number
p=principal balance (initial)**without interest**
r=interest rate
t=the amount of time
p=$4000
t= 7yrs
r=2%=0.02
we need to turn 2% into a decimal, to do that you divide 2 by 100 which is 0.02
now we rewrite the equation-
a=4000(1+0.02)^7
a=4000*1.1486
the answer is
$4594.74
good luck :)
i hope this helps
have a nice day !!
