3400 dollars is placed in an account with an annual interest rate of 7.5%. how much will be in the account…

Explanation:

Step1: Identify the compound - interest formula

The compound - interest formula is $A = P(1 + r)^t$, where $A$ is the amount of money in the account after $t$ years, $P$ is the principal amount (initial amount of money), $r$ is the annual interest rate (in decimal form), and $t$ is the number of years.

Step2: Convert the interest rate to decimal form

Given $r = 7.5%=\frac{7.5}{100}=0.075$, $P = 3400$, and $t = 17$.

Step3: Substitute the values into the formula

$A=3400\times(1 + 0.075)^{17}$. First, calculate $(1 + 0.075)^{17}$. $(1 + 0.075)^{17}=1.075^{17}$. Using a calculator, $1.075^{17}\approx3.49197$. Then, $A = 3400\times3.49197$. $A=3400\times3.49197 = 11872.698$.

Answer:

$$11872.70$