Answer:
$13,376
Explanation:
Given an initial investment (P) of $7,500 invested for 8 years (n) at 7.5% per annum (r),
the amount at the end of the investment will be
[tex]A = P (1+r)^{n}[/tex]
[tex]= 7,500 * (1.075)^{8}[/tex]
[tex]= 7,500 * 1.7835[/tex]
= $13,376.
