Stans savings account has a balance of $1986 after 23 years, what will the amount of interest be at 4% compound annually

$1,178.69

Step-by-step explanation:

To find the amount of interest, you can use the present value formula to calculate the initial amount Stan had 23 years ago and then, subtract this amount from the balance he has today:

P= F/((1+i)^n)

P= present value

F= future value= 1986

i= interest rate= 4%

n= number of time periods= 23

P= 1,986/((1+0.04)^23)

P= 1,986/2.46

P= 807.31

$1,986-$807.31= $1,178.69

answer: since the question is talking about growth you have to use the growth formula which is inital amount (1 + growth)^time

step-by-step explanation:

the intial amount is 1200, the growth is 4.8, and the time is 7. plug those numbers into the equation, also i think you have to change 4.8 into a percent. but, i have forgotton how to do that. if this is a online class go on to the lesson.

"a" determine whether sage found the correct quotient. show your work

step-by-step explanation: