Given:
Initial Amount = $18000
Rate = 9%
Time = 6
Sol:
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]Where,
[tex]\begin{gathered} A=\text{ Final amount} \\ P=\text{Initial principal } \\ r=\text{Interest rate} \\ n=\text{ number of time interest} \\ t=\text{time} \end{gathered}[/tex][tex]\begin{gathered} r=9\% \\ =\frac{9}{100}=0.09 \\ n=1 \end{gathered}[/tex][tex]\begin{gathered} A=P(1+\frac{r}{n})^{nt} \\ A=18000(1+\frac{0.09}{1})^{1\times6} \\ A=18000(1.09)^6 \\ A=30187.802 \end{gathered}[/tex]After 6 year value is 30187.802
