7900 dollars is placed in an account with an annual interest rate of 5.5%. 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 $r = 5.5%=0.055$, $P = 7900$, and $t = 11$.

Step3: Substitute the values into the formula

$A=7900\times(1 + 0.055)^{11}$. First, calculate $(1 + 0.055)^{11}$. $(1 + 0.055)^{11}=1.055^{11}\approx1.8983$. Then, $A = 7900\times1.8983$. $A=7900\times1.8983 = 14996.57$.

Answer:

$14996.57$