You invest $300 at 4% interest, compound every year. What will your balance be after 5 years? (Remember, the formula is A = P(1 + r)t.)

$7500

Step-by-step explanation:

We have been given the formula to use but we will have to be able to recognize what each of the letters in the formula represent

A=P(1+r)t

A stands for the interest

P stands for principal

r stands for the rate

t stands for the time

So from the question we can deduce that we are to find the value A

P=$300

r=4%

t=5years

A=?

A=300(1+4)5

Using the BODMAS principle by solving the bracket first

A=300(5)5

A=300(25)

A=7500

Therefore the interest is $7500