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

Question

3 years ago

6

he nearest cent?

2 answers:

NNADVOKAT [17] · Answer 1 · 2022-06-03T16:21:15+03:00

7 0

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

inysia [295] · Answer 2 · 2022-06-03T17:29:45+03:00

5 0

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