Nazerhy deposits $8,000 in a certificate of deposit. The annual interest rate is 6%, and the interest will be compounded monthly. How much will the certificate be worth in 10 years?
Round your answer to the nearest cent.
Do NOT round until you calculate the final answer
I need the answer ASAP plzzz

Step-by-step explanation:

we know that    

The compound interest formula is equal to  

 where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above

answer: e 9, 5.75

step-by-step explanation:

step 1

find the variation ab in the x coordinate

delta x=(x2-x1)=10-> 8 units

find the variation ab  in the y coordinate 

delta y=(y2-y1)=6-> 2 units

step 2

find the coordinates point c

  x coordinate 

cx=ax+delta x*2/> cx=2+8*(2/> cx=3

  y coordinate 

cy=ay+delta y*2/> cy=4+2*(2/> cy=4.25

the coordinates of point c are (3,4.25)

step 3

find the coordinates point d

  x  coordinate 

dx=ax+delta x*4/> dx=2+8*(4/> dx=4

  y  coordinate 

dy=ay+delta y*4/> dy=4+2*(4/> dy=4.5

the coordinates of point d are (4, 4.5)

step 4

find the coordinates point e

  x  coordinate 

ex=ax+delta x*4/> ex=2+8*(6/> ex=5

  y  coordinate 

ey=ay+delta y*4/> ey=4+2*(6/> ey=4.75

the coordinates of point e are (5, 4.75)

step 5

find the coordinates point f

  x  coordinate 

fx=ax+delta x*4/> fx=2+8*(8/> fx=6

  y  coordinate 

fy=ay+delta y*4/> fy=4+2*(8/> fy=5

the coordinates of point f are (6,5)

step 6

find the coordinates point g

  x  coordinate 

gx=ax+delta x*4/> gx=2+8*(10/> gx=7

  y  coordinate 

gy=ay+delta y*4/> gy=4+2*(10/> gy=5.25

the coordinates of point g are (7,5.25)

step 7

find the coordinates point h

  x  coordinate 

hx=ax+delta x*4/> hx=2+8*(12/> hx=8

  y  coordinate 

hy=ay+delta y*4/> hy=4+2*(12/> hy=5.5

the coordinates of point h are (8,5.5)

step 8

find the coordinates point i

  x  coordinate 

ix=ax+delta x*4/> ix=2+8*(14/> ix=9

  y  coordinate 

iy=ay+delta y*4/> iy=4+2*(14/> iy=5.75

the coordinates of point i are (9,5.75)

- r3ktforgood ☕