Use your calculator to evaluate the formula $A=P(1+r)^{t}$ for the given values of each variable. Round your answer to the nearest hundredth.
\[
P=7453, r=0.07, t=19
\]
When $A=P(1+r)^{t}$ is evaluated for $P=7453, r=0.07$, and $t=19$, the result to the nearest hundredth is $A=$
Answer
Final Answer: When $A=P(1+r)^{t}$ is evaluated for $P=7453$, $r=0.07$, and $t=19$, the result to the nearest hundredth is $A= \boxed{26953.98}$
Step 1 ：Given the formula for compound interest $A=P(1+r)^{t}$, where P is the principal amount, r is the annual interest rate in decimal form, and t is the time the money is invested for in years. We are asked to find the value of A when $P=7453$, $r=0.07$, and $t=19$.
Step 2 ：Substitute the given values into the formula: $A=7453(1+0.07)^{19}$
Step 3 ：Evaluate the expression to find the value of A. The result to the nearest hundredth is $A=26953.98$
Step 4 ：Final Answer: When $A=P(1+r)^{t}$ is evaluated for $P=7453$, $r=0.07$, and $t=19$, the result to the nearest hundredth is $A= \boxed{26953.98}$
