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Please Help!!!
Leo deposited $8,358 in an account that earned 2.5% interest compounded annually for 14 years. After 14 years, what was Leo’s account balance. Express your answer rounded correctly to the nearest cent

Respuesta :

devishri1977

Answer:

Step-by-step explanation:

P = $ 8,358

r =2.5% = 0.025

t = 14 years

[tex]Amount=P*(1+\frac{r}{100})^{t}\\\\=8358*(1+0.025)^{14}\\\\=8358*(1.025)^{14}\\\\[/tex]

= 8358 * 1.41

= $ 11784.78

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