Answer:

Explanation:
The formula for the amount (A) accrued on an investment earning compound interest is

where
P = the amount of money invested (the principal)
r = the annual interest rate expressed as a decimal fraction
t = the time in years
n = the number of compounding periods per year
Data:
P = $80 000
r = 5.4 % = 0.054
t = 13 yr
n = 12 /yr
Calculation:
