Find the Compound Interest Earned

question 18

Multiple Choice

Find the compound interest earned. Round to the nearest cent. Do not use an interest table.
-$5,000 at 7% compounded annually for 4 years

• A)$1,553.98
• B)$1,400.00
• C)$1,125.22
• D)$351.50

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Definitions:

Accessing Critical Resources

The ability to obtain essential services or goods that support survival and well-being.

Clients

Individuals or entities that receive professional services or advice from a company or professional, often within the context of consulting, legal, and therapeutic fields.

System Development Roles

Positions or job titles relevant to the creation and maintenance of systems, which might include roles such as developer, analyst, tester, and project manager.

Policy Developers

Individuals or groups involved in creating guidelines, rules, or procedures intended to govern or direct specific areas of public or organizational life.