Suppose that $1,000 is deposited into an account that yields 0.85% interest, compounded annually. How much money will be in that account at the end of 4 years? Round your answer to the nearest
cent

 1034.44 dollars

Work Shown:

A = P*(1+r/n)^(n*t)

A = 1000*(1+0.0085/1)^(1*4)

A = 1034.43596172007

A = 1034.44

Notes:

P = 1000 is the deposit or principalr = 0.0085 is the decimal form of the annual interest rate of 0.85%; we can say 0.85% = 0.85/100 = 0.0085n = 1 represents how many times per year we're compounding the money (ie annually)t = 4 = number of yearsThe result of 1034.44 dollars is only possible if you do not withdraw any of the money in the four year time period.

Ican't do any of the other stuff, but i can get you started. the answer, i believe, is $2.50.