Question

Luke's investment of $5000 earns 3% per year, compounded annually over 4 years. What
is the value of investment after 4 years?
A)5553
B)10201
C)5627
D) 5300

Answer 1

Answer:

$ 5300

Step-by-step explanation:

SI = P×R×T ÷ 100

(5000×3×4) ÷ 100

= 300

Amount = 5000 + 300

= $5300.00