# Chapter 7 - Exponents and Exponential Functions - 7-7 Exponential Growth and Decay - Practice and Problem-Solving Exercises - Page 464: 17

$635 #### Work Step by Step The formula is:A=P(1+$\frac{r}{n}$$)^{nt} P=500 which is the start amount R=0.04 which is the rate(4%) in decimal N=4 because it is the number of times compounded per year. T=6 which is the time. Substitute: A=500(1+\frac{0.04}{4}$$)^{4(6)}$A=500(1.27) A=635 There would be about$635 after 6 years

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.