Answer:
$8,890.83
Step-by-step explanation:
To find the answer we have to use this equation:
[tex]A = P(1 + r)^t[/tex]
A = The total amount
P = The initial amount
R = The interest rate
T = Time
Given in the question:
A = ?
P = 2,900
R = .09
T = 13
Plug it into the equation and solve:
[tex]A = 2900(1 + .09)^1^3\\A = 2900(1.09)^1^3\\A = 2900(3.065804612)\\A = 8890.83[/tex]
Therefore, after 13 years there will be $8,890.83 in the account.
I hope this helps!!
- Kay :)
