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

Question

3 years ago

11

nearest cent?

1 answer:

mr_godi [17] · Answer 1 · 2022-04-29T05:05:36+03:00

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>