can you answer each question and type the correct code? please remember to type in all caps with no spaces…

can you answer each question and type the correct code? please remember to type in all caps with no spaces. puzzle #2 seven years ago, akna put $4000 into an account paying a 2.5% interest rate, compounded annually. 1 how much interest has accrued in that time? 2 what is her account worth today, in dollars? 3 in another 7 years, what will her account be worth, in dollars? 4 how much money had been in her account after 1 year? answer choices a: 1000 b: 754.74 c: 4578.23 d: 5000 e: 4873.61 f: 5651.90 g: 4754.74 h: 100 i: 4100 round to the nearest hundredth type the 4 - letter code into the answer box. all caps, no spaces.

can you answer each question and type the correct code? please remember to type in all caps with no spaces. puzzle #2 seven years ago, akna put $4000 into an account paying a 2.5% interest rate, compounded annually. 1 how much interest has accrued in that time? 2 what is her account worth today, in dollars? 3 in another 7 years, what will her account be worth, in dollars? 4 how much money had been in her account after 1 year? answer choices a: 1000 b: 754.74 c: 4578.23 d: 5000 e: 4873.61 f: 5651.90 g: 4754.74 h: 100 i: 4100 round to the nearest hundredth type the 4 - letter code into the answer box. all caps, no spaces.

Answer

Explanation:

Step1: Recall compound - interest formula

The compound - interest formula is $A = P(1 + r)^n$, where $P$ is the principal amount, $r$ is the annual interest rate (as a decimal), and $n$ is the number of years. Here, $P=$4000$, $r = 0.025$, and $n = 7$.

Step2: Calculate the amount after 7 years

$A=4000\times(1 + 0.025)^7=4000\times1.025^7$. $1.025^7\approx1.188686$, so $A = 4000\times1.188686=$4754.74$.

Step3: Calculate the interest accrued

The interest accrued $I=A - P$. So $I = 4754.74-4000=$754.74$.

Step4: Calculate the amount after another 7 years

The new $n = 14$. $A = 4000\times(1 + 0.025)^{14}$. $(1 + 0.025)^{14}\approx1.399463$, so $A=4000\times1.399463=$5597.85$.

Step5: Calculate the amount after 1 year

$n = 1$, $A=4000\times(1 + 0.025)^1=4000\times1.025=$4100$.

Answer:

  1. B
  2. G
  3. (Not in given options, but calculated as $5597.85$)
  4. I