An initial investment is $13230
it grows at a rate of 6% a year
interest is compounded yearly
what is the value after 18 years (nearest penny)

The Amount of investment after 18 years is $37762.39

Step-by-step explanation:

Given as :

The principal investment = $13230

The rate of interest compounded yearly =  6%

The Time period = 18 years

From compounded method

Amount = Principal ×

Or, Amount = $13230 ×

Or, Amount = $13230 ×

Or, Amount = $13230 × 2.8543

∴   Amount = $37762.389

Hence The Amount of investment after 18 years is $37762.39   Answer

answer: (3,11) is your answer.

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