Mathematics
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A 4,000.00 principal earns 5% interest, compounded annually. After 4 years, what is the balance in the account? A. 500,000.00 B. 4,862.03 C. 4,600.00 D. 20,250.00

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monikasepulveda

The compound interest formula is given. Principal is $4,000 Rate of interest is 5% or 0.05 Number of times compounded is 1 (once per year) T (or time in years) is 4 The balance after 4 years is $4,862.03

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