The principal represents an amount of money deposited in a savings account subject tocompound interest at the given rate.Principal$8000CompoundedmonthlyRateTime6.5%5 yearsA. Find how much money there will be in the account after the given number of years.B. Find the interest earned.Click the icon to view some finance formulas.- XFormulasA. The amount of money in the account after 5 years is $(Round to the nearest hundredth as needed.)In the provided formulas, A is the balance in the account after t years, P is theprincipal investment, r is the annual interest rate in decimal form, n is the numberof compounding periods per year, and Y is the investment's effective annual yieldin decimal form.ADIDB. The amount of interest earned is $.(Round to the nearest hundredth as needed.)ntAP=A=Pert- 1ntPrintDoneFEBw22MacBook AirF3F4@

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The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal $8000 Compounded monthly Rate Time 6.5% 5 years A. Find how much money there will be in the account after the given number of years. B. Find the interest earned.

The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal $8000 Compounded monthly Rate Time 6.5% 5 years A. Find how much money there will be in the account after the given number of years. B. Find the interest earned.

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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