Catelyn invested $7000 in an account that earns 5.6% interest, compounded annually. the formula for compound interest is a(t) = p(1 + i)t.
how much did catelyn have in the account after 4 years?
a. $8719.36
b. $8704.70
c. $8568.00
d. $10,920.00

B. $8704.70

Step-by-step explanation:

Given : Principal amount (P)=$7000

Rate of interest (i) {in decimal} =

Time period (t)= 4 years

The formula for compound amount is

Now, the total amount in Catelyn's account after 4 years  

Hence, Catelyn have $8704.70 in her account after 4 years .

c

-by-step explanation:

it would be c