The total amount of Chandra's investments after 8 years exists $110.03.
The formula for calculating the compound interest exists defined as;
[tex]$A = P(1+r/n)^{nt[/tex]
where, P exists the amount invested = $75
r exists the rate. = 0.048
t exists the time = 8 years
n = 12 (monthly)
The formula for calculating the compound interest,
[tex]$A = P(1+r/n)^{nt[/tex]
Substitute the value in the above equation, and we get
[tex]$A = 75(1+0.048/12)^{96[/tex]
A = 75(1.467)
A = 110.03
Hence the total amount of Chandra's investments after 8 years exists $110.03
To learn more about compound interest refer to:
brainly.com/question/24924853
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