asked 129k views
4 votes
Samantha opened a savings account this morning. her money will earn 3.5 percent interest, compounded annually. after four years, her savings account will be worth $5,000. assume she will not make any withdrawals. given this, which one of the following statements is true?

1 Answer

6 votes
5000=p(1+0.035)^4
P=5000/1.035^4
P==4,357.21
answered
User Raymond Liao
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