MATH 121 - Final Milestone. Questions and Answers. Rationales Provided. 24/25 Score.



Suppose $20,000 is deposited into an account paying 4.5% interest, compounded annually.

How much money is in the account after four years if no withdrawals or additional deposits are made?

$24,100.00

$24,350.52

$23,600.00

$23,850.37

RATIONALE

This is the general equation for compounding interest, where is the principal

balance, is the annual percentage rate (APR), is time (in years), and is the

numbe...
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