7800 dollars is placed in an account with an annual interest rate of 6.5%. 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 $P$ 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 $r = 6.5%=0.065$, $P = 7800$, and $t = 29$.

Step3: Substitute the values into the formula

$A=7800\times(1 + 0.065)^{29}$. First, calculate $(1 + 0.065)^{29}$. $(1 + 0.065)^{29}=1.065^{29}$. Using a calculator, $1.065^{29}\approx6.14777$. Then, $A = 7800\times6.14777$. $A=7800\times6.14777 = 47952.606$.

Answer:

$$47952.61$