Answer:
Part a)
Part b)
Part c)
Part d)
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
Part a) How much would you have at the end of 1 year?
in this problem we have
substitute in the formula above
Part b) How much would you have at the end of 2 year?
in this problem we have
substitute in the formula above
Part c) How much would you have at the end of 3 year?
in this problem we have
substitute in the formula above
Part d) How much would you have at the end of 4 year?
in this problem we have
substitute in the formula above