leroy deposited $8,000 in an account earning 5% 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 $P$ 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 $r = 5%=0.05$, $P=$8000$, and $t = 2$ years.

Step3: Substitute values into the formula

$A=8000\times(1 + 0.05)^2$. First, calculate $(1 + 0.05)^2=(1.05)^2 = 1.1025$. Then, $A = 8000\times1.1025$. $A=8820.00$.

Answer:

$8820.00$