Savannah deposits $360 every month into an account earning a monthly interest rate of 0.65%. How much would she have in the account after 8 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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Savannah deposits  $360 every month into an account earning a monthly interest rate of  0.65%. How much would she have in the account after 8 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. We are given: d (the amount invested at the end of each period) = $360 i (the interest rate per period) = 0.65% or 0.0065 in decimal form n (the number of periods) = 8 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. 0.65% as a decimal is 0.0065.Substitute Values: Substitute the values into the formula. A = 360 * (((1 + 0.0065)^(8) - 1) / 0.0065)Calculate (1 + i)^n: Calculate the value inside the parentheses (1 + i)^n. (1 + 0.0065)^8 = 1.0065^8Calculate (1 + i)^n: Calculate (1 + i)^n using a calculator. 1.0065^8 ≈ 1.0527Subtract 1: Subtract 1 from the result of step 5. 1.0527 - 1 = 0.0527Divide by i: Divide the result of step 6 by i. 0.0527 / 0.0065 ≈ 8.1077Multiply by d: Multiply the result of step 7 by d. 360 * 8.1077 ≈ 2918.772Round to Nearest Dollar: Round the result to the nearest dollar. The future value of the account, rounded to the nearest dollar, is approximately $2919.

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