numeric 1 point after 6 years, naomi has approximately $3618.25 in her savings account. if her interest rate…

Explanation:

Step1: Recall compound - interest formula

The compound - interest formula is $A = P(1 + r)^t$, where $A$ is the final amount, $P$ is the principal (initial deposit), $r$ is the annual interest rate (as a decimal), and $t$ is the number of years. We know that $A=$3618.25$, $r = 0.05$, and $t = 6$. We need to solve for $P$.

Step2: Rearrange the formula to solve for $P$

From $A = P(1 + r)^t$, we can get $P=\frac{A}{(1 + r)^t}$.

Step3: Substitute the values

Substitute $A = 3618.25$, $r=0.05$, and $t = 6$ into the formula: $P=\frac{3618.25}{(1 + 0.05)^6}$. First, calculate $(1 + 0.05)^6=1.05^6\approx1.3400956406$. Then, $P=\frac{3618.25}{1.3400956406}\approx2699$.

Answer:

2699