nicole deposits $2,136 in a savings account paying 5.36% interest. to the nearest dollar, how much money…

Explanation:

Step1: Identify the 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 time the money is invested for in years.

Step2: Convert the interest rate to decimal form

Given $r = 5.36%=0.0536$, $P=$2136$, and $t = 9$ years.

Step3: Substitute the values into the formula

$A=2136\times(1 + 0.0536)^{9}$. First, calculate $(1 + 0.0536)^{9}$. $(1 + 0.0536)^{9}=1.0536^{9}\approx1.575$. Then, $A = 2136\times1.575=2136\times\frac{1.575}{1}=3364.2$. Rounding to the nearest dollar, $A\approx3166$.

Answer:

d. $$3,166$