4400 dollars is placed ina an account with an annual interest rate of %8.25. How much will be in the account after 29 years

Answer:[tex]FV=43839\hspace{3}\[/tex]Step-by-step explanation:Basically, we need to find the future value. The future value (FV) is the value that a certain amount of money will have in the future that we currently maintain or that we decide to invest in a certain project. In order to calculate the VF we need to know the value of our money at the present time and the interest rate that will be applied to it in the coming periods.  The formula is as follows:[tex]FV=PV(1+\frac{r}{n} )^{nt}\\\\Where:\\\\PV=Present\hspace{3}value=4400\$ \\r=Annual \hspace{3}interest\hspace{3}rate=8.25\%=0.0825\\t=time=29\\n=Number\hspace{3} of \hspace{3}times\hspace{3} that \hspace{3}interest\hspace{3} is \hspace{3}compounded \hspace{3}per\hspace{3} unit\hspace{3}t=1[/tex]Therefore, after 29 years:[tex]FV=4400(1+(\frac{0.0825 }{1} ))^{29*1}=4400(1.0825)^{29}\approx 43839\hspace{3}\[/tex]There will be 43839 dollars in the account.