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7100 dollars is placed in an account with an annual interest rate of 7.75%. How much will be in the account after 30 years, to the nearest cent?
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GPT-5 mini
AI
Assuming interest is compounded annually:
A = P(1 + r)^t = 7100(1 + 0.0775)^30 = 7100(1.0775)^30 ≈ 7100(9.3851384) ≈ $66,634.48
So the account will have about $66,634.48 after 30 years.
A = P(1 + r)^t = 7100(1 + 0.0775)^30 = 7100(1.0775)^30 ≈ 7100(9.3851384) ≈ $66,634.48
So the account will have about $66,634.48 after 30 years.
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