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For the investment with interest compounded annually, find the final balance using the formula A = P(1 + r)t


$5000 for 5 years at 3.2%


A.

$5160.00


B.

$5852.86


C.

$20,037.32


D.

$25,800.00

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Verified Answer :

Ckaranja

B.
$5852.86

Working;
A = P(1 + r)^t
A=5000(1+\(\frac{3.2}{100}\))^5
A=5852.86

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