P = Po(1+r)^n.
n = 1Comp./yr. * 5yrs = 5 Compounding periods.
P = 4000(1.06)^5 =
2. Find the balance in the account after the given period.
$4000 principal earning 6% compounded annually, after 5 yr
a. $6,726.28
b. $5,352.90
c. $5,395.40
d. $7,716.74
2 answers
b. 5,352.90
1 answer