Janice put $5823.00 into a savings account that pays 2.25% interest. If she leaves that money in the account for 4 years, how much will the balence of her account be?

Given:

Principal value = $5823.00

Rate of interest = 2.25%

Time = 4 years

To find:

The amount in the account after 4 years.

Solution:

The formula for amount is

where, P is principal, r is rate of interest and t is time period.

Putting P=5823, r=2.25 and t=4 in the above formula.

Therefore, the amount in the according after 4 years is about $6365.024.

the answer

b. they are parallel and will never intersect.