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aksik [14]
3 years ago
12

41) Gabriella invests $8,193 in a retirement

Mathematics
1 answer:
nataly862011 [7]3 years ago
4 0

Answer:

Option C. \$34,252.67  

Step-by-step explanation:

we know that    

The compound interest formula is equal to  

A=P(1+\frac{r}{n})^{nt}  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

t=18\ years\\ P=\$8,193\\ r=0.08\\n=6  

substitute in the formula above  

A=\$8,193(1+\frac{0.08}{6})^{6*18}=\$34,252.67  

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