can i get an answer please

Question

Susan deposited $4000 into an account with 3.6% interest, compounded monthly. Assuming that no withdrawals are made, how much will she have in the account after 5 years?

Do not round any intermediate computations, and round your answer to the nearest cent.

$________

Answer 1

Formula for compounded interest: A = P(1 + (r/n)^(nt)

A = final amount, p = starting amount, r = interest rate, n = number of times interest is applied per time frame, and t = number of times period elapsed.

P = 4000 , r = .036 , t = 5 , and n = 12

A = 4000( 1 + (.036/12)(12 x 5)

A = 4000( 1 + .003) ^ (60)

A = 4000 ( 1.003) ^(60)

A = $ 4787.58