Lindsay puts $1000 in a bank account that earns 4% compound interest per year. how much will be in her bank account after 7 years? round your answer to the nearest hundredths place.

Step-by-step explanation:

we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above  

ok

step-by-step explanation: