Compound interest 4

3600 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?

Correct answer:

x =  31043.09 USD

Step-by-step explanation:

a=3600 USD q=9%=1+1009=1.09 t=25  x=a qt=3600 1.0925=31043.09 USD=3.1104 USD

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