Asked by maggie

When Melissa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the total amount in the account after 18 years.
Answered by Henry
P = Po + Po*r*t
P = 8000 + 8000*0.09*18. Solve for P.
Answered by E.
n(t)=n0Xe^rt

n(18)=8000Xe^0.09X18

n(18)=$40,425
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