Question 6700 dollars is placed in an account with an annual interest rate of 8.25% How much will be in the account after 28 years, to the nearest cent? Answer Attempt 3 out of 3

Solution

Solution

Amount : 22177

Solution steps

Translate the problem into an equation:

A = 6700 (1 + 0.0825 \cdot 28)

6700 (1 + 0.0825 \cdot 28) = 22177

Amount : 22177

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