Question

Can someone help me with this question?

Answer 1

So P is the initial investment, which in this case is $1,500
n is the number of years when the money is invested for, which it says is 18.
Hence, using the formula, A = 1500[(1.1)^18], which comes to equal $8339.87597 or $8339.88 to two decimal places.

Answer 2

Thanks!

Answer 3

No worries at all.