BASEBALLGREAT04
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An initial amount of $800 is invested in a compound savings account with an annual interest rate of 4.5%. Using the formula A = P (1 + r) Superscript t, what is the balance after five years?

Respuesta :

iamathing

Answer:

$996.95

Step-by-step explanation:

Using the exponential growth formula, plug the given data into it

P = initial value

r = growth rate

t = number of time intervals passed

[tex]800 (1 + .045)^{5}[/tex]

[tex]800(1.045)^{5}[/tex]

≈ $996.95

Answer:

996.95

Step-by-step explanation:

Took the quiz on edge 2021 :)

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