Use a calculator to find the value of A. ( A= Pert) and fill in the question marks

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

1. A = the amount of money you have at time t
2. P = starting amount of money = $2000
3. r = rate expressed as a decimal = 5% = 0.05
4. t = time = 4 years

A = 2000·e^(0.05)(4) = 2000·e^0.2 = ??

Use your calculator to get the answer. As the instructions say, round to the nearest hundredth (pennies).