Respuesta :
Answer with explanation:
Amount in my account =$ 60
→Amount in my account after 8 years, if rate of interest is 7%
Amount→(using the formula of compound interest)
[tex]=P(1+\frac{R}{100})^t\\\\=60(1+\frac{7}{100})^8\\\\=60\times(1.07)^8\\\\=60\times 1.7181\\\\=103.10[/tex]
→And $ 15 is added every year in my account for 8 years.
Total Money after 8 years = $15×8=$120
Total Money in my Account after 8 years = $103.10+$120
=$223.10
