Question

9000 dollars is placed in an account with an annual interest rate of 8% How much will be in the account after 17 years, to the nearest cent

Answer 1

Answer:

I assume that interest is compounded annually

Principal = $ 9000

Rate of interest =7.75% = 0.0775

Time in years = t = 18 yrs

Amount =  

Amount = 9000

Amount = 9000

Amount = 9000(3.832754648)

Amount = $ 34,494 .791

Amount = $ 34,494.80 (nearest cent )

Step-by-step explanation:

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