select the correct answer. calculate the compound amount. round to the nearest cent for. p = $1500, r = 9%…

Explanation:

Step1: Recall compound - interest formula

The compound - interest formula is $A = P(1+\frac{r}{n})^{nt}$, where $A$ is the compound amount, $P$ is the principal amount, $r$ is the annual interest rate (in decimal), $n$ is the number of times compounded per year, and $t$ is the number of years.

8.

$P = 1500$, $r=0.09$, $n = 365$ (compounded daily), $t = 5$ $A=1500(1 +\frac{0.09}{365})^{365\times5}$ $A=1500(1+\frac{0.09}{365})^{1825}$ First, calculate $1+\frac{0.09}{365}=1 + 0.000246575=1.000246575$ Then, $(1.000246575)^{1825}\approx1.152266$ $A = 1500\times1.152266=1728.399\approx1728.40$ (There seems to be an error in the problem - setup as the options don't match this result. Let's assume the correct formula application)

9.

$P = 1700$, $r = 0.09$, $n=2$ (compounded semi - annually), $t = 3$ $A=1700(1+\frac{0.09}{2})^{2\times3}$ $A=1700(1 + 0.045)^{6}$ $(1.045)^{6}\approx1.30226$ $A=1700\times1.30226 = 2213.842\approx2213.84$

10.

$P = 1800$, $r=0.095$, $n = 1$ (compounded annually), $t = 10$ $A=1800(1 + 0.095)^{10}$ $(1.095)^{10}\approx2.57707$ $A=1800\times2.57707=4638.726\approx4638.73$ (Again, options don't match well with the correct calculation. Assuming correct formula application)

Answer:

8. No correct option from given ones
9. C. $2213.84$
10. No correct option from given ones