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8300 dollars is placed in an account with an annual interest rate of 6.5%. How much will be in the account after 14 years, to the nearest cent?
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GPT-5 mini
AI
Assuming interest is compounded annually:
A = P(1 + r)^t = 8300(1 + 0.065)^14 = 8300(1.065)^14 ≈ 8300(2.414873246) ≈ $20,043.45
So about $20,043.45 after 14 years.
A = P(1 + r)^t = 8300(1 + 0.065)^14 = 8300(1.065)^14 ≈ 8300(2.414873246) ≈ $20,043.45
So about $20,043.45 after 14 years.
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