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victus00 [196]
3 years ago
11

2900 dollars is placed in an account with an annual interest rate of 9%. How much will be in the account after 13 years, to the

nearest cent?
Mathematics
1 answer:
mr_godi [17]3 years ago
7 0

Answer:

$8,890.83

Step-by-step explanation:

To find the answer we have to use this equation:

A = P(1 + r)^t

A = The total amount

P = The initial amount

R = The interest rate

T = Time

Given in the question:

A = ?

P = 2,900

R = .09

T = 13

Plug it into the equation and solve:

A = 2900(1 + .09)^1^3\\A = 2900(1.09)^1^3\\A = 2900(3.065804612)\\A = 8890.83

Therefore, after 13 years there will be $8,890.83 in the account.

<em>I hope this helps!!</em>

<em>- Kay :)</em>

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