9000 dollars is placed in an account with an annual interest rate of 7.75%. How much will be in the account after 18 years, to t
he nearest cent?
2 answers:
In one year, $ 9,000 with a profit of 7.75%, is $ 697.5
697.5 × 18 = 12555
After 18 years old, it is $ 15,222
Answer:
The answer is 34494.79
Step-by-step explanation:
Y=ab^x
A= starting value= 9000
r=rate = 7.75% = 0.0775
Exponential growth
Y= 9000(1.0775)^x
Plug in time for x
Y= 9000(1.0775)^18
Y=34494.7918323
ROUND the number and your answer will be Y= 34494.78
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