CMS District Screener for Math 1 / 4 of 20 Il Pause
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A business has a savings account that earns a 3% annual interest rate. At the end of 1996, the business had $4,000 in the account. The
formula F
+
100 is used to determine the amount in the savings account.
P(1
• Fis the final amount,
p is the initial investment amount,
. ris the annual interest rate, and
. tis the time in years.
To the nearest dollar, how much did the business initially invest in 1991?
o A. $4,637
O B. $3,450
O C. $3,455
O D. $4,631