Question

T.J. invests $8,100 in an account

Answer 1

Answer:

$13,177.97

Step-by-step explanation:

Compound Interest Formula

$A=P(1+\frac{r}{n} )^{nt}$

A = final amount

P = initial investment

r = interest rate

n = number of times the rate is applied during a time period

t = number of times the time period has elapsed

$A=8100(1+\frac{.072}{1} )^{(1)(7)} \\A=8100(1.072)^{7}\\ A=8100*(1.626909883)\\A=13177.97006$