Question

Help with this math question please

Answer 1

Amount of money invested: P=$4,100
Interest rate percentage in decimal form: r=7.25%=7.25/100→r=0.0725
Time in years: t=8
Total money in the account at time t: A=?

A=Pe^(rt)
A=$4,100e^(0.0725*8)
A=$4,100e^0.58
A=$4,100(1.786038431)
A=$7,322.757566
A=$7,322.76

Answer: The balance in the account after 8 years is $7,322.76