The future value of your fund if compounded annually is $261.21
Compound interest
The formula for calculating the compound interest is expressed as
P(t) = P0(1+r)^t
where
P0 = $200
rate r = 2.25% = 0.0225
time t = 12 years
Substitute
p(12) = 200(1+0.0225)^12
P(12) = 200(1.0225)^12
P(12) = 261.21
Hence the future value of your fund if compounded annually is $261.21
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