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Would you use the equation A(t) = a(1 + r)^t or A = Pe^rt to solve home much will be in your account in 5 years if you deposit $2000 and pays an annual interest of 4%?

Would you use the equation At a1 rt or A Pert to solve home much will be in your account in 5 years if you deposit 2000 and pays an annual interest of 4 class=
Would you use the equation At a1 rt or A Pert to solve home much will be in your account in 5 years if you deposit 2000 and pays an annual interest of 4 class=

Respuesta :

Given:

[tex]a=\text{ \$2000 ; r=4\% ; }t=5[/tex][tex]\begin{gathered} A=a(1+r)^t \\ A=2000(1+0.04)^5 \\ A=2000(1.04)^5 \\ A=2433.31 \end{gathered}[/tex]

Total money in the account after 5 years is $2433.31

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