Answer: $7,488
Step-by-step explanation:
For answer B:
The formula for the new balance would be A=P(1 + r)t
A = new balance
P = principal balance -> $900
r = rate (in decimal form)
t = time in years -> 8 years
To find the rate, convert 4% to decimal
4/100 = 0.04
A=P(1+ r)t
A=900(1+0.04)8
A=900(1.04)8
A=$7,488
