Question

If you deposit $25,000 today into an account that pays interest at 7%, compounded annually, how much will be in your account at the end of 4 years?

$26,750.00

$32,769.90

$32,000.00

$32,898.29

Answer 1

$32769.90

Step-by-step explanation:

As, Amount = Principcal( 1 + Rate/100)^n

So, 25000 ( 107/100) ^ 4 (as, n = time = 4 years)

So answer= $32,769.90