Question

Sally opens a bank account with $500. The account accrues 5% interest compounded annually. How much money will she have in her account at the end of 4 years? (Use the formula A=P(1+rn)nt , where P = initial amount of money, r = interest rate, t = the number of years, and n = number of times the interest is compounded per year.) (Round to the nearest cent)

Answer 1

5% because she or him spend 500. on 4 years so it have 5%