You deposit $2500 in an account that pay 5.25% annual interest. What is the balance of the account after 4 years if the interest is compounded monthly? Round your answer to the nearest hundredth.

$91,857,996,748.33

Step-by-step explanation:

To calculate this, we use the compound interest formula

A = P( 1 + r/n)^nt

where A is the balance we want to

calculate

P is the deposit amount = $2,500

r is the interest rate = 5.25%

n is the number of times we compound per year. Since it is monthly, we have it as 12 times per year

t is the

number of years = 4 years

Substituting these values, we have that;

A = 2,500 ( 1 + 5.25/12)^(4)(12)

A = 2,500( 1 + 0.4375)^48

A = 2500(1.4375)^48

A = 91,857,996,748.32578

To the nearest hundredth we have;

$91,857,996,748.33

the largest number of the four options is 1.8 x 10-2

you have it in scientific notation.

1.80 x 10-6   = 0.00000180

1.80 x 10-4   = 0.000180 (bigger, or "less small", than the former one)

so

1.8 x 10-2       = 0.0180. as you see. the "less small", or the biggest one of them all.

as you have negative exponent, it means you are dividing 1.8 by 100 (i.e. moving the dot towards left, two times).

if you had positive exponent for the scientific notation, power of tenths, you would be multiplying times 100 (moving the dot towards right) as below:

1.8 x (10)2 = 180

so. if you have negative exponent in scientific notation, move the dot toward left. if it is positive, toward right as many times the exponent tells you.

its 60

4 x 12 = 48

3 x 4 = 12

48 + 12 = 60

yeeeet