Denelle has $1,000 in a savings account that earns 1% interest, compounded annually. To the nearest cent, how much will she have in 4 years? Use the formula B = p(1 + r)t, where B is the balance (final amount), p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years

Respuesta :

Using the given equation:

B = 1000(1+0.01)^4

B = $1040.60

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