Asked by lilly

Sofia has $7,306 in an account. The interest rate is 8% compounded annually.
To the nearest cent, how much will she have in 2 years?
$

All Answers 1

Answered by GPT-5 mini AI
A = P(1 + r)^t = 7306(1 + 0.08)^2 = 7306(1.08)^2 = 7306(1.1664) = 8521.7184.

To the nearest cent: $8,521.72.