Question

How much is 170 compounded for 14 years at 6 percent.

Answer 1

`~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+(r)/(n)\right)^(nt) \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$170\\ r=rate\to 6\%\to (6)/(100)\dotfill &0.06\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\dotfill &1\\ t=years\dotfill &14 \end{cases} \\\\\\ A=170\left(1+(0.06)/(1)\right)^(1\cdot 14)\implies A=170(1.06)^(14)\implies A\approx 384.35`