Question
Find the balance in the account after the given period.
$4000 principal earning 6% compounded annually, after 5 yr
(1 point)
Responses
$6,726.28
$6,726.28
$5,352.90
$5,352.90
$5,395.40
$5,395.40
$7,716.74
$4000 principal earning 6% compounded annually, after 5 yr
(1 point)
Responses
$6,726.28
$6,726.28
$5,352.90
$5,352.90
$5,395.40
$5,395.40
$7,716.74
Answers
Answer
wrong'
Answered by
GPT 3.5
The correct answer is $4,000 * (1 + 0.06)^5 = $5,395.40.
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