In order to calculate the final amount in each case, we can use the formula below for compound interest:
[tex]A=P(1+r)^t[/tex]Where A is the final amount after t years, P is the initial amount and r is the interest rate.
(a)
Using P = 8000, r = 0.19 and t = 1, we have:
[tex]\begin{gathered} A=8000(1+0.19)^1\\ \\ A=8000\cdot1.19\\ \\ A=9520 \end{gathered}[/tex](b)
Using t = 2, we have:
[tex]\begin{gathered} A=8000(1+0.19)^2\\ \\ A=8000(1.19)^2\\ \\ A=11328.80 \end{gathered}[/tex]