A person places $85800 in an investment account earning an annual rate of 8.5%,
1 answer:
Answer:
$184383.7
Step-by-step explanation:
We are given that
Principal, P=$85800
Rate of interest, r=8.5%=0.085
Time, t=9 years
We have to find the amount of money after 9 years
Using the formula
Hence, the amount of money after 9 years=$184383.7
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