question\n3600 dollars is placed in an account with an annual interest rate of 9%. how much will be in the…

question\n3600 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?\nanswer attempt 1 out of 2

question\n3600 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?\nanswer attempt 1 out of 2

Answer

Explanation:

Step1: Identificar la fórmula de interés compuesto

La fórmula de interés compuesto es $A = P(1 + r)^t$, donde $A$ es el monto final, $P$ es el principal (cantidad inicial), $r$ es la tasa de interés anual en decimal y $t$ es el número de años.

Step2: Convertir la tasa de interés a decimal

Dado que $r = 9%=0.09$, $P = 3600$ y $t = 25$.

Step3: Sustituir valores en la fórmula

$A=3600\times(1 + 0.09)^{25}$.

Step4: Calcular $(1 + 0.09)^{25}$

$(1 + 0.09)^{25}=1.09^{25}\approx8.62308066$.

Step5: Calcular el monto final

$A = 3600\times8.62308066\approx31043.09$.

Answer:

$31043.09$