3600 dollars is placed in an account with an annual interest rate of 9%. how much will be in the account after 25 years, to the nearest cent

31043.09

Step-by-step explanation:

Kinda feel bad for the last person who answered! They were way off but still you need to learn from your mistakes! Welp this answer is STRAIGHT OFF THE BACK from delta MATH! So this IS correct! If this helped click the stars and the heart to help fellow students, educators, etc. Understand this answer is for certain correct! I would add the steps but there is alot!

31043.09

Step-by-step explanation:

Kinda feel bad for the last person who answered! They were way off but still you need to learn from your mistakes! Welp this answer is STRAIGHT OFF THE BACK from delta MATH! So this IS correct! If this helped click the stars and the heart to help fellow students, educators, etc. Understand this answer is for certain correct! I would add the steps but there is alot!

$8,890.83

Step-by-step explanation:

To find the answer we have to use this equation:

A = The total amount

P = The initial amount

R = The interest rate

T = Time

Given in the question:

A = ?

P = 2,900

R = .09

T = 13

Plug it into the equation and solve:

Therefore, after 13 years there will be $8,890.83 in the account.

I hope this helps!!

- Kay :)

8100

Step-by-step explanation:

3,600×0.09×25=8100

And the value after 13 years would be $8890.83.

Step-by-step explanation:

For this case we assume that we can use the compound interest formula given by:

Where:

A= represent the future value

P = represent the present value

r= the interest rate on fraction

n= number of times that the interest is effective in a year

For this case we have the following info:

P=2900$, r= 0.09, n = 1 (since it's annual) and t =13 years

We want to find the value of A and if we replace we got:

And the value after 13 years would be $8890.83.

And the amount of interest earned would be: 8890.83-2900=$5990.833

A = $ 31,043.09

A = P + I where

P (principal) = $ 3,600.00

I (interest) = $ 27,443.09

Step-by-step explanation:

A = P(1 + r/n)^nt

Where:

A = Accrued Amount (principal + interest)

P = Principal Amount

I = Interest Amount

R = Annual Nominal Interest Rate in percent

r = Annual Nominal Interest Rate as a decimal

r = R/100

t = Time Involved in years, 0.5 years is calculated as 6 months, etc.

n = number of compounding periods per unit t; at the END of each period

A = $ 31,043.09

A = P + I where

P (principal) = $ 3,600.00

I (interest) = $ 27,443.09

Step-by-step explanation:

A = P(1 + r/n)^nt

Where:

A = Accrued Amount (principal + interest)

P = Principal Amount

I = Interest Amount

R = Annual Nominal Interest Rate in percent

r = Annual Nominal Interest Rate as a decimal

r = R/100

t = Time Involved in years, 0.5 years is calculated as 6 months, etc.

n = number of compounding periods per unit t; at the END of each period

This difference is equal to the money we will able to earn from the Bank of San Dimas account at the end of eight years.

Explanation:

Principle amount deposited in the Bank of Pomona , P= $7,500

Rate of the simple interest = R = 9%

Duration of time = T = 8 years

Simple interest = I

Total amount earned = A = $7,500 +$5,400 = $12,900

Principle amount deposited in the Bank of San Dimas, P= $7,500

Rate at interest is compounded = R = 9% = 0.09

Duration of time = T = 8 years

Number of times interest applied per time period , n = 1

Amount after 8 years = A'

A'= $14,944.22

Difference of amounts in both banks after 9 years :

A' - A = $14,944.22 - $12,900 = $2,044.22

This difference is equal to the money we will able to earn from the Bank of San Dimas account at the end of eight years.

This difference is equal to the money we will able to earn from the Bank of San Dimas account at the end of eight years.

Explanation:

Principle amount deposited in the Bank of Pomona , P= $7,500

Rate of the simple interest = R = 9%

Duration of time = T = 8 years

Simple interest = I

Total amount earned = A = $7,500 +$5,400 = $12,900

Principle amount deposited in the Bank of San Dimas, P= $7,500

Rate at interest is compounded = R = 9% = 0.09

Duration of time = T = 8 years

Number of times interest applied per time period , n = 1

Amount after 8 years = A'

A'= $14,944.22

Difference of amounts in both banks after 9 years :

A' - A = $14,944.22 - $12,900 = $2,044.22

This difference is equal to the money we will able to earn from the Bank of San Dimas account at the end of eight years.

The answer is in the image