Answer :
The money in the account after 8 years is $24068.631.
Given that, principal=$19000 and the rate of interest=3%.
What is the formula to find the compound interest?
The formula to find the compound interest is CI=A-P.
Where, A=Amount that is [tex]A=P(1+\frac{r}{100} )^{n}[/tex], P=principal.
Now, [tex]A=19000(1+\frac{3}{100} )^{8}[/tex]
=19000[tex](1.03)^{8}[/tex]
=19000×1.26677008139
=$24068.6315464
=$24068.631
Therefore, the money in account is $24068.631.
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