Question

$7000 at 2% for 4 years.

Answer 1

7577.02

Explanation:

This would be the formula for that.

`ia(1+.per)^(x)`=y

ia is the Initial Amount, which is 7000

.per is the recent, in this case is .2

and finally x, which is the amount of years. this is 4

If you put this into a scientific calculator:
`7000(1+.02)^(4) = y` you will get

7577.02