Mackenzie deposits $690 every month into an account earning a monthly interest rate of 0.25%. How much would she have in the account after 13 months, to the nearest dollar? Use the following formula to determine your answer. A=d(((1+i)^(n)-1)/(i)) A= the future value of the account after n periods d= the amount invested at the end of each period i= the interest rate per period n= the number of periods Answer:

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Mackenzie deposits  $690 every month into an account earning a monthly interest rate of  0.25%. How much would she have in the account after 13 months, to the nearest dollar? Use the following formula to determine your answer.  A=d(((1+i)^(n)-1)/(i))  A= the future value of the account after  n periods  d= the amount invested at the end of each period  i= the interest rate per period  n= the number of periods Answer:

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Identify Given Values: Identify the given values from the problem. d (the amount invested at the end of each period) = $690 i (the interest rate per period) = 0.25% or 0.0025 in decimal form n (the number of periods) = 13 months We will use these values in the formula A=d(((1+i)^(n)-1)/(i)) to find A, the future value of the account.Convert Interest Rate: Convert the interest rate from a percentage to a decimal. 0.25% = 0.25 / 100 = 0.0025 This is the value of i that we will use in the formula.Substitute Values into Formula: Substitute the values into the formula. A = 690 * (((1 + 0.0025)^(13) - 1) / 0.0025) Now we will calculate the value inside the parentheses first.Calculate (1 + i)^(n): Calculate the value of (1 + i)^(n). (1 + 0.0025)^(13) = 1.0025^(13) We will use a calculator to find this value.Calculate 1.0025^(13): Calculate the value of 1.0025^(13). 1.0025^(13) ≈ 1.033 This is the value we will use in the next step of our calculation.Calculate ((1 + i)^(n) - 1): Calculate the value of ((1 + i)^(n) - 1). 1.033 - 1 = 0.033 This is the value we will use in the next step of our calculation.Calculate (((1 + i)^(n) - 1) / i: Calculate the value of (((1 + i)^(n) - 1) / i). 0.033 / 0.0025 = 13.2 This is the value we will use in the next step of our calculation.Calculate Future Value of Account: Calculate the future value of the account, A. A = 690 * 13.2 Now we will multiply to find the future value of the account.Calculate Final Value of A: Calculate the final value of A. A = 690 * 13.2 ≈ 9108 We round to the nearest dollar as instructed in the problem.

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