Question

Please help!

Samantha puts an initial $500 into a savings account. The account has a 4% annual compound interest rate. What is the function that best represents Samantha's account and how much does she have in savings after 5 years? Round your answer to the nearest dollar.
Hint: Use the formula, f(x) = P(1 + r)x.

Answer 1

you may be able to divide $500.00 and 4% which will equal 125 then multiply 5 x 125 which will be 625. but im just guessing because i was not listening to my teacher when she was teaching this.