Question: If the nt ation rate averages 4% per year compounded annually for the next 2 years, what will a car that costs $15,400 now cost

 If the nt ation rate averages 4% per year compounded annually

If the nt ation rate averages 4% per year compounded annually for the next 2 years, what will a car that costs $15,400 now cost 2 years trom now? Identify the formula required to solve this problem A A-P(1+rt), where A is the amount, P is the principal, r is the annual simple interest rafe, and t is the time in years A-Pr1+0, where 1m and A s the amount at the end of n periods, P is the princpal value, r is the annual nominal rate, m is number of compounding periods per year, t is rate per compounding period, and n is total number of compounding periods AnPen, where A is the amount at the end of t years if Prs the princpal invested at an annual rate r compounded contruously 1Prt, where 1 is the interest, P is the principal, r is the annual simple interest rate, and t is the time in years D. A car that costs $15,400 now will cost S 2 yoars from now (Do not round until the final answer Then round to the nearest cent as needed )

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