Garrett Schofield
04/28/2023 · Senior High School
Peter puts \( \$ 100.00 \) into an account to use for school expenses. The account earns \( 15 \% \) interest, compounded annually. How much will be in the account after 7 years? Use the formula \( A=P\left(1+\frac{r}{n}\right)^{n t} \), where \( A \) is the balance (final amount), \( P \) is the principal
Upstudy ThothAI Solution
Tutor-Verified Answer
Quick Answer
The amount in the account after 7 years will be approximately $266.00.
Step-by-step Solution
Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text
Enter your question here…
By image
Re-Upload
Submit