What is amount of interest i earned on $4,000 deposited in a savings account with 4% interest compounded annually after 4 years?
give answer in us dollars and cents, rounded to the nearest cent. do not enter "$" sign

$ 679.43

Step-by-step explanation:

Since, the amount formula in compound interest is,

Where,

P = initial amount,

r = annual rate of interest,

n = number of compounding periods in a year,

t = number of years,

Here, P = $ 4,000, r = 4% = 0.04, t = 4 years, n = 1,

So, the amount after 4 years would be,

Hence, the amount of interest,

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step-by-step explanation:

the radius is 2 times the diameter.

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