Question

(1 point) If 8000 dollars is invested in a bank account at an interest rate of 9 per cent per year, find the amount in the bank after 5 years if interest is compounded annually

Answer 1

$12,308.99

Step-by-step explanation:

$8,000.00 $8,000.00 $720.00 $8,720.00 $8,000.00

$8,000.00 $8,720.00 $784.81 $9,504.80 $8,000.00

$8,000.00 $9,504.80 $855.45 $10,360.23 $8,000.00

$8,000.00 $10,360.23 $932.45 $11,292.65 $8,000.00

$8,000.00 $11,292.65 $1,016.34 $12,308.99 $8,000.00

hope this helps!