9514 1404 393
Answer:
$36,259.78
Step-by-step explanation:
The formula for compound interest is ...
A = P(1 +r/n)^(nt)
where principal P is invested at annual rate r for t years compounded n times per year.
Here, you have P = 17000, r = 0.06, n = 1, t = 13.
A = 17000(1 +0.06)^13 = 17000(2.13292826) = 36,259.78
The accumulated value after 13 years is $36,259.78.
