Answer: B) A = 750(1.04)ⁿ
Step-by-step explanation:
The formula for compounded annually is: A = P(1 + r)ⁿ where
- A (amount accrued) = unknown
- P (amount invested) = $750
- r (interest rate) = 4% -->(0.04)
- t (time in years) = unknown
A = 750(1 + 0.04)ⁿ
= 750(1.04)ⁿ
