Question

Fedor invests $3300 in an account earning 2% interest, compounded

annually. The equation that represents this scenario is:
A(n) = 3300(1 + 0.02) 11
How much will he have in the account in year 8? Round your answer to the
nearest dollar.

a. $ 3791
b. $ 11,824
c. $ 3866
d. $ 23,562
​

Answer 1

Answer: A 3791

Explanation:

I took a test and it was correct

Answer 2

c. $3866

Explanation:

Put 8 where n is and do the arithmetic.

A(8) = $3300(1.02^8) = $3386