Use a calculator to find the value of A. ( A= Pert)

Question

P= 2,000

r= 5%

t= 4

A= 2,000(?)^0.2

= 2,000(?)

=?

Because A represents money, apply the standard rules of rounding to round to the nearest hundredth.

Thus, the balance in the account at the end of 4 years is A = ?

Answer 1

A = Pe^rt

= 2,000(e)^5/100*4

= 2,000(e)^0.2

= 2,000(2.718)^0.2

= 2,442.7548

= 2,442.755 (rounded to nearest hundredth)