a principal of $3600 is invested at 7.5% interest, compounded annually. how much will the investment be…

Explanation:

Step1: Identify compound - interest formula

The compound - interest formula when compounded annually is $A = P(1 + r)^t$, where $A$ is the final amount, $P$ is the principal amount, $r$ is the annual interest rate (in decimal form), and $t$ is the number of years.

Step2: Convert the interest rate to decimal

Given $r = 7.5%=0.075$, $P = 3600$, and $t = 7$.

Step3: Substitute values into the formula

$A=3600\times(1 + 0.075)^7$.

Step4: Calculate the value

First, calculate $(1 + 0.075)^7=(1.075)^7\approx1.6532977$. Then, $A = 3600\times1.6532977\approx5951.87172$.

Step5: Round the answer

Rounding $5951.87172$ to the nearest dollar gives $A\approx5952$.

Answer:

$5952$