lamar deposited $9,651 in an account earning 10% interest compounded annually. to the nearest cent, how much…

Explanation:

Step1: Identify compound - interest formula

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

Step2: Convert the interest rate to decimal

Given $r = 10%=0.1$, $P=$9651$, and $t = 4$ years.

Step3: Substitute values into the formula

$A=9651\times(1 + 0.1)^4$. First, calculate $(1 + 0.1)^4=(1.1)^4=1.1\times1.1\times1.1\times1.1 = 1.4641$. Then, $A = 9651\times1.4641$. $A=9651\times1.4641=14130.0291$.

Answer:

$14130.03$