Find the value of $17,000 invested in a mutual fund that earned an annual
percentage rate of 6. 5%, compounded monthly, for 8 years.

$28,554.37

Step-by-step explanation:

To solve this problem, lets use the compound interest formula:

P = initial balance

r = interest rate (decimal)

n = number of times compounded annually

t = time

First, change 6.5% into a decimal:

6.5% -> -> 0.065

Since the interest is compounded monthly, we will use 12 for n. Lets plug in the values now:

The value of the mutual fund after 8 years is $28,554.37

just do 5.2 + 2 ( 7.2) and 1/3 x 3 (.9) and youv'e got your equation. 0.9( 9/10) + 7.2 ^2 = 16.4 hope i could !

step-by-step explanation: