Respuesta :
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.
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Answer:
The answer to this question is A
Step-by-step explanation:
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