You deposit $750 into an account that earns 8% interest, compounded yearly. How much money is in the account after 7 years (assuming you did not withdraw or deposit any of it) ?

1285.37

Step-by-step explanation: You can use the formula for compound interest:

P (1+R) ^t

P = the principle, the amount of money

(1+R) = the rate, (%) as a decimal plus 1

^t = to the power of the number of years

Substitute the values:

750 (1+0.08) ^7

750 (1.08) ^7

1285.37