AsireS198318 AsireS198318
  • 03-11-2022
  • Mathematics
contestada

$21,000 at 13.6% compounded annually for 4 years.

Respuesta :

AniyaE685899 AniyaE685899
  • 03-11-2022

Answer

$34,972.98

Explanation:

The amount after 4 years can be calculated as:

[tex]A=P(1+r)^n[/tex]

Where P is the initial investment, r is the interest rate and n is the number of years. So, replacing P = $21,000, r = 13.6% = 0.136 and n = 4, we get:

[tex]\begin{gathered} A=21,000(1+0.136)^4 \\ A=34,972.98 \end{gathered}[/tex]

Therefore, the answer is $34,972.98

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