Answer :

Answer:

$16,326

Explanation

A = P(1 + r/n)^(nt)

Where:

A = final amount

P = principal amount (initial deposit)

r = annual interest rate (in decimal form)

n = number of times interest is compounded per year

t = number of years

In this case, Juanita deposited $12,000, the interest rate is 8% (or 0.08), and the interest is compounded annually for 4 years.

Plugging these values into the formula, we have:

A = 12,000(1 + 0.08/1)^(1*4)

Let's break down the calculation step by step:

Divide the interest rate by the number of times interest is compounded per year:

0.08/1 = 0.08

Add 1 to the result:

1 + 0.08 = 1.08

Multiply the result by the number of times interest is compounded per year (which is 1 in this case):

1.08^1 = 1.08

Raise the result to the power of the number of years:

1.08^4 ≈ 1.3605

Finally, multiply the result by the principal amount:

A = 12,000 * 1.3605 ≈ $16,326

Therefore, at the end of 4 years, Juanita will have approximately $16,326 in her account.