Answer:

Explanation:
GIVEN: Daniel invests
in a retirement account with a fixed annual interest rate of
compounded
times per year.
TO FIND: What will the account balance be after
years
SOLUTION:
Amount invested by Daniel

Annual interest rate
Total amount generated by compound interest is

Here Principle amount

rate of interest

number of times compounding done in a year

total duration of time

putting values we get
=



Hence the total balance after
will be
