Principal Amount = P = $ 4100
Interest rate = r = 7.25% = 0.0725
Time in years = t = 8 years
Amount accumulated = A
Formula for compound interest is:
[tex]A=P e^{rt} [/tex]
Using the given values, we get:
[tex]A=4100 e^{0.0725*8}=7322.76 [/tex]
Rounding of to nearest hundredth, the balance in the account after 8 years will be $7322.76
