Answer:
$7639.12
Step-by-step explanation:
We use the compound formula for accrued value (A) for a principal P deposited at an annual rate "r" over t years
[tex]A = P (1+r)^t[/tex]
In our case, with the given information, the formula becomes:
[tex]A = P (1+r)^t\\A=7500 \,(1.0023)^8\\A = 7639.11602[/tex]
which rounded to the nearest cent gives: $7639.12
