Answer: The balance in the account to the nearest whole dollar after 5l4 years = $ 2814
Step-by-step explanation:
Principal = $ 2500
Rate of Interest = 3% compounded annually
Time = 4 years
If principal be p, rate of interest be i and time be t , then Amount after t years is given by P × ( 1 + i/100 )^t
So, amount after 4 years = 2500 × ( 1 + 3/100)^4
= 2500 × (1.03)^4
= 2500 × 1.1255
= 2814 ( rounded to nearest whole dollar )
The balance in the account to the nearest whole dollar after 4 years = $ 2814
Hope it helped..!!
Thank you :)
