Question

Clayton opens a savings account with 11 dollars he got from his grandmother

Answer 1

Answer:

The answer is "$3640.58"

Step-by-step explanation:

This question is incomplete, that's why we add another question in the attached file. Please find it.

P = $\ \ 1300$ and effective per year is = interest rate per year = 7.2  

Total  $\ \ 1300$ due after 8 years is P+PRT:

$\to 1300(1+0.072 \times 8)\\\\\to 1300(1+ 0.576)\\\\\to 1300(1.576)\\\\\to \ \ 2048.8$

$\to Total \ X = \ \ (7000-2048.8)$

$= \ \ 4951.2 \\\\= X(1 +0.072 \times 5)\\\\=1.36 X$

The number of dollars is X $= \frac{4951.2}{1.36} = \ \ 3640.58$