Answer:
$333.17
Step-by-step explanation:
Use the compounding formula
[tex]A(t)=P(1+r)^t[/tex]
where A(t) is the amount at the end of the compounding,
P is the initial deposit,
r is the interest rate in decimal form, and
t is the time in years.
Filling in our info:
[tex]A(t)=180(1+.08)^8[/tex]
Simplify a bit to
[tex]A(t)=180(1.08)^8[/tex]
Raise 1.08 to the 8th power and get
A(t) = 180(1.85093021) and then multiply to get
A(t) = $333.17
