Answer:
$2871
Explanation:
You want the value of an investment of $1900 after 12 years if it earns 3.5% interest compounded annually.
Compound interest
The value of the account is multiplied by (1+r) each year, so after 12 years it will be ...
A = P(1 +r)^t
A = 1900(1 +0.035)^12 ≈ 2871
The investment will be worth $2871 after 12 years.
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