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4. Nina deposits $400 in an account that earns 4% interest, compounded annually. A. What is the initial value of the account? B. What function represents the balance after t yea…

4. Nina deposits $400 in an account that earns 4% interest, compounded annually. A. What is the initial value of the account? B. What function represents the balance after t yea…
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4. Nina deposits $400 in an account that earns 4% interest, compounded annually.

A. What is the initial value of the account?

B. What function represents the balance after t years?

C. What is the value of the account after 5 years? (Use a calculator.)

asked
User Prabath Siriwardena
by
8.5k points

1 Answer

2 votes

Answer:

a. $400

b. f(t) = 400(1.04)^t

c. $486.66¢

Explanation:

Please kindly see the attached files for explanation

4. Nina deposits $400 in an account that earns 4% interest, compounded annually. A-example-1
4. Nina deposits $400 in an account that earns 4% interest, compounded annually. A-example-2
answered
User Dzmitry Paliakou
by
8.4k points
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