To find the outcome of compounded money, we use the following formula:
[tex]e = b \times (1 + \frac{i}{100} ) {}^{n} [/tex]
In this formula:
e represents the outcome
b represents the money at the beginning
i represents the interest rate
n represents the number of years.
Filling in this formula, we get:
[tex]e = 400 \times (1 + \frac{6}{100}) {}^{5} [/tex]
[tex]e = 400 \times 1.06 {}^{5} [/tex]
[tex]e = 535.29[/tex]
Therefore the answer is C. $535.29
