9000 dollars is placed in an account with an annual interest rate of 8%. How much will be in the account after 17 years, to the nearest cent?
, where P - initial sum, i - interest rate, n - number of payments
Since the rate is annual, then there will be 17 payments in 17 years, so n =17. i is given 0.08 and P is given 9000, so
dollars
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