Suppose that a merchant buys a patio set from the wholesaler for $260

well what is the question here?

Step-by-step explanation:

The account balance will be $2,614.16 after 10 years ⇒ D

Step-by-step explanation:

The formula for compound interest, including principal sum is:

, where

A is the future value of the investment/loan, including interestP is the principal investment amount  r is the annual interest rate (decimal)n is the number of times that interest is compounded per unit tt is the time the money is invested or borrowed for

Let us use this rule to solve the question

∵ Ted invests $1,077 in a savings account with a fixed annual interest

   rat 9% compounded three times per year

∴ P = 1,077

∴ r = 9% = = 0.09

∴ n = 3 ⇒ three times per year

∵ The time is ten years

∴ t = 10

Substitute these values in the rule above to find A

∵

→ Use your calculator to find the answer

∴ A = 2,614.161681

→ Round it to the nearest cent (2d.p.)

∴ A = $2,614.16

∴ The account balance will be $2,614.16 after 10 years.