6700 dollars is placed in an account with an annual interest rate of 8.25%. how much will be in the account…

Explanation:

Step1: Identify compound - interest formula

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

Step2: Convert the interest rate to decimal

Given $r = 8.25%=0.0825$, $P = 6700$, and $t = 28$.

Step3: Substitute values into the formula

$A=6700\times(1 + 0.0825)^{28}$. First, calculate $(1 + 0.0825)^{28}$. Let $x=(1 + 0.0825)^{28}=1.0825^{28}$. Using a calculator, $1.0825^{28}\approx8.90777$. Then, $A = 6700\times8.90777$. $A=6700\times8.90777 = 59681.059$.

Answer:

$$59681.06$