Answer:Amount after 19 years is $14,480 (Rounded off)
Nearest hundred dollars = $14,500
Step-by-step explanation:
Compute compound interest using the following formula: A = P(1 + r/n) ^ nt
A= Total amount value
P = principle amount invested
r = rate of interest
n = numbers of years invested
A = $9,400 r =2.3% n =19 years
A= 9400 (1+2.3÷19) ^ 19 = $14,480 (Rounded off)
Amount after 19 years is $14,480 (Rounded off)
Nearest hundred dollars = $14,500
Step-by-step explanation:
