91.6k views
2 votes
Help with this math question please

Help with this math question please-example-1
User Troy Comi
by
7.8k points

1 Answer

3 votes
Amount of money invested: P=$4,100
Interest rate percentage in decimal form: r=7.25%=7.25/100→r=0.0725
Time in years: t=8
Total money in the account at time t: A=?

A=Pe^(rt)
A=$4,100e^(0.0725*8)
A=$4,100e^0.58
A=$4,100(1.786038431)
A=$7,322.757566
A=$7,322.76

Answer: The balance in the account after 8 years is $7,322.76
User Josh Rieken
by
8.8k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories