a principal of $1800 is invested at 3.75% interest, compounded annually. how much will the investment be…

Explanation:

Step1: Identify compound - interest formula

The compound - interest formula is $A = P(1 + r)^t$, where $A$ is the amount of money accumulated after $n$ years, including interest, $P$ is the principal amount (the initial amount of money), $r$ is the annual interest rate (in decimal form), and $t$ is the number of years the money is invested for.

Step2: Convert the interest rate to decimal

The annual interest rate $r = 3.75%=0.0375$. The principal $P = 1800$ and the number of years $t = 10$.

Step3: Substitute values into the formula

$A=1800\times(1 + 0.0375)^{10}$.

Step4: Calculate the value

First, calculate $(1 + 0.0375)^{10}$. Using a calculator, $(1 + 0.0375)^{10}\approx1.436793$. Then, $A = 1800\times1.436793\approx2586.23$.

Step5: Round the answer

Rounding $2586.23$ to the nearest dollar gives $2586$.

Answer:

$2586$