Arlo invested $4000 in an account that earns 5.5% interest, compounded annually. the formula for compound interest is a(t)=p(1+i)^t. how much did arlo have in the account after 4 years?

$ 4955.30 ( approx )

Step-by-step explanation:

The formula for compound interest is,

Where, P is the principal amount,

i is the rate per period,

t is the number of periods,

Here, P = $ 4000,

i = 5.5% = 0.055

t = 4 years,

By substituting the values,

The amount in the account after 4 years would be,

step-by-step explanation:

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