Answer:
¡¡ESPERO QUE ESTO TE AYUDE!!
Explanation:
To find out how much money would be in the account after 8 years, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the future value of the investment
P = the principal amount (initial investment)
r = the annual interest rate (written as a decimal)
n = the number of times interest is compounded per year
t = the number of years
In this case, the principal amount (P) is $2,800, the annual interest rate (r) is 6.2% or 0.062 as a decimal, the number of times interest is compounded per year (n) is 12 (monthly compounding), and the number of years (t) is 8.
Plugging in these values into the formula, we get:
A = 2800(1 + 0.062/12)^(12*8)
Calculating this equation will give us the future value of the investment after 8 years. Rounding to the nearest ten dollars, the final amount in the account would be:
A ≈ $4,382.00
Therefore, to the nearest ten dollars, there would be approximately $4,382.00 in the account after 8 years.