you deposit $150 in an investment account that earns 6.7% annual interest compounded annually. what is the…

Explanation:

Step1: Identify the compound - interest formula

The compound - interest formula is $A = P(1 + r)^t$, where $A$ is the final amount, $P$ 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 $r = 6.7%=0.067$, $P=$150$, and $t = 5$ years.

Step3: Substitute the values into the formula

$A=150\times(1 + 0.067)^5$. First, calculate $(1 + 0.067)^5=(1.067)^5\approx1.387566$. Then, $A = 150\times1.387566\approx208.14$.

Answer:

$208.14$