At the beginning of year 1 , Carlos invests $ \$ 600 $ at an annual compound interest rate of $ 4 \% $. He makes no deposits to or withdrawals from the account.

Which explicit formula can be used to find the account's balance at the beginning of year 5 ? What is the balance?
A. $ A(n)=600 \cdot(1+0.04)^{(n-1)} ; \$ 701.92 $
B. $ A(n)=600 \cdot(1+0.04)^{n} ; \$ 729.99 $
C. $ A(n)=600+(n-1)(0.04 \cdot 600) ; \$ 696.00 $
D. $ A(n)=600+(0.04 \cdot 600)^{(n-1)} ; \$ 684.52 $

Question

At the beginning of year 1 , Carlos invests $ \$ 600 $ at an annual compound interest rate of $ 4 \% $. He makes no deposits to or withdrawals from the account.

Which explicit formula can be used to find the account's balance at the beginning of year 5 ? What is the balance?
A. $ A(n)=600 \cdot(1+0.04)^{(n-1)} ; \$ 701.92 $
B. $ A(n)=600 \cdot(1+0.04)^{n} ; \$ 729.99 $
C. $ A(n)=600+(n-1)(0.04 \cdot 600) ; \$ 696.00 $
D. $ A(n)=600+(0.04 \cdot 600)^{(n-1)} ; \$ 684.52 $

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