## Juno deposited $750 in a savings account that earns 4% interest compounded annually. If she does not deposit or withdraw any more money, how

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## Answers ( No )

The correct answer is A) $1249.

Explanation:The amount of interest is calculated using the formula

,

where a is the amount of principal, r is the interest rate as a decimal number, n is the number of times per year the interest is compounded, and t is the number of years.

Our principal is $750, the interest rate is 4%=4/100=0.04, n is 1, and t is 13:

,

which rounds to 1249.

Answer:A.$1249.Step-by-step explanation:We have been given that Juno deposited $750 in a savings account that earns 4% interest compounded annually. We are asked to find the amount of money in the account after 13 years.

To solve our given problem, we will use compound interest formula. , where,

A = Amount after t years,

P = Principal amount,

r = Interest rate in decimal form,

n = Number of times interest is compounded per year,

t = Time in years.

Let us convert our given interest rate in decimal form.

Upon substituting our given values in compound interest formula we will get,

Therefore, there will be $1249 in Juno’s account after 13 years and option A is the correct choice.