4400 dollars is placed in an account with an annual interest rate of 8.25%. 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 $r = 8.25%=0.0825$, $P = 4400$, and $t = 22$.

Step3: Substitute the values into the formula

$A=4400\times(1 + 0.0825)^{22}$. First, calculate $(1 + 0.0825)^{22}$. Let $x=(1 + 0.0825)^{22}$. Using a calculator, $x\approx5.67777$. Then, $A = 4400\times5.67777$. $A=4400\times5.67777 = 24982.188$.

Answer:

$$24982.19$