HELP ME: Will Give Brainliest : Due in about half an hour : It is said that a mutual fund (for retirement) can earn 8% interest every year. If I invest $500, find an explicit equation to find the account value at any number of years.

A = $7,000.00
Thats what it would be in 5 years.

First, converting R percent to r a decimal
r = R/100 = 8%/100 = 0.08 per year.

Solving our equation:
A = 5000(1 + (0.08 × 5)) = 7000
A = $7,000.00

The total amount accrued, principal plus interest, from simple interest on a principal of $5,000.00 at a rate of 8% per year for 5 years is $7,000.00.

I'm sure the answer is a