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9000 dollars is placed in an account with an annual interest rate of 8%. How much will be in the account after 17 years, to the nearest cent?

Respuesta :

Answer:

$33,300.16

Step-by-step explanation:

Amount after 17 year is $33,300 (Approx.)

Given that;

Amount invested = $9,000

Annual interest rate = 8% = 0.08

Number of year = 17 years

Find:

Amount after 17 year

Computation:

A = P[1+r]ⁿ

Amount after 17 year = 9,000[1+0.08]¹⁷

Amount after 17 year = 9,000[1.08]¹⁷

Amount after 17 year = 9,000[3.7]

Amount after 17 year = $33,300 (Approx.)

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