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DerKrebs [107]
3 years ago
7

Help with this math question please

Mathematics
1 answer:
Liono4ka [1.6K]3 years ago
7 0
Principal Amount = P = $ 4100
Interest rate = r = 7.25% = 0.0725
Time in years = t = 8 years
Amount accumulated = A

Formula for compound interest is:

A=P e^{rt}

Using the given values, we get:

A=4100 e^{0.0725*8}=7322.76

Rounding of to nearest hundredth, the balance in the account after 8 years will be $7322.76
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