If $8,500 is deposited in a compound interest account paying 3.9% interest annually, how much will be in the account after 12 years? round your answer to the nearest cent.

The formula for amount is given by:

Now we are given ,

Principal (P) =$8500

rate (r) =3.9% = 0.039

period of interest (n) =1 for compounded annually

time (t) = 12 years

Plugging these values in the formula,

Amount =$13452.5773053

Answer : There will be $13452.5773053 in the account after 12 years.

step-by-step explanation:

1/3 + 1/3 ≠ 2/6 because 1/3 alone = 2/6  

step by step explanation:

1/3 + 1/3 = 2/3       2/3=4/6