Lily provider a loan of $2500 to David that had an annual interest rate of 4.6%. Find the balance after 5 years if itcompounded yearly

The balanced amount is $3130.25.

Step-by-step explanation:

Given : Lily provider a loan of $2500 to David that had an annual interest rate of 4.6%.

To find : The balance after 5 years if it compounded yearly ?

Solution :

Using compound interest formula,

Where, P=$2500 is the principal

r=4.6%=0.046 is the interest rate

t=5 years

Substitute the values,

Therefore, the balanced amount is $3130.25.

yes

step-by-step explanation:

so of course you want to start by plugging the 5 in which goes to 7(5)+3(5)=50 because 7*5=35 and 3*5=15 and then add them together, then plug in the 5 to the other equation as well 9(5)+5=50 because 9*5= 45 and then add 5 and so yes they are equivalent.