PLEASE HELP ME WITH THIS QUESTION 1) A person invests $500 in an account that earns a nominal yearly interest rate of 4%. How much will the account be worth in 10 years if the compounding frequency is once per year? Round your answer to the nearest cent.

Formula: At=P(1+r)^t

answer: the answer is 23

step-by-step explanation:

answer: c, the green line

step-by-step explanation:

there is no black line, eliminate b.

simple interest implies periodic payments, but the red line shows no payments, eliminate d.

simple interest has equal payments. if paid say every day, the graph is about a straight line (actually a stairstep).

the yellow line is not straight, eliminate a.

check: the green line is straight, answer is c.

simple interest with positive interest rate gives a straight line sloping up to the right. green line:

g(t) = $100 + ($200-$100) ÷ (20 years) × (t years)

= $100 + (4%/year) × ($100)(t years)

incidentally, the yellow line curving upward represents continuously compounded interest

y = $100 × 2^(t years / (14 assuming the yellow line hits $200 at 14 years. 2^0 is 1, so y(0) = $100; 2^(14/14) is 2, so y(14) = $200.

he earned 78.75 in interest.

step-by-step explanation:

150

step-by-step explanation:

(sorry i'm not typing it again just read the other two explanation sections i just typed it'll be the same.)