Question: Question 2 18 points The equation for compound interest is A P 1 7 where Pis the initial amount invested r is the interest rate

Question 2 18 points The equation for compound interest is A

Question 2 18 points The equation for compound interest is A P 1 7 where Pis the initial amount invested r is the interest rate as a decimal nis the number of times compounded annually and t is the number of years Determine the value of the account if the initial investment is 8 000 compounded annually at a rate of 4 after 5 years O 9 761 52 O 9 733 22 O 8 320 8 004

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