Question

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

Answer 1

The answer is "$3640.58"

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 * 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 * 5)\\\\=1.36 X \\\\`

The number of dollars is X
`= (4951.2)/(1.36) = \$ \ 3640.58`