Help meeeeeeeeeeeeeeeeeeee pleaseeeeeeeeeeeeeeeeeeeee!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!help meeeeeeeeeeeeeeeeeeee pleaseeeeeeeeeeeeeeeeeeeee!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Answer:

$8551.56

Step-by-step explanation:

In the equation

$A=P(1+\frac{r}{n})^(nt)$ ,

P is the principal (in this case, the amount loaned to Erica), r is the interest rate, n is the number of times compounded per year (12 in the problem since there are 12 months in a year), and t is the time in years.

By plugging in our principal, rate (converted to a decimal), compounding periods and time, we have:

$A=5300(1+\frac{0.08}{12})^(12*6)\\ A=5300(\frac{151}{150})^(72)\\ A=8551.561=8551.56$

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