SOLUTION: p=14,000, m = 14, r = 6% compounded annually

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Question 436799: p=14,000, m = 14, r = 6% compounded annually
Answer by mananth(16949) About Me  (Show Source):
You can put this solution on YOUR website!
Principal P = 14000
Amount= A
years=n 14
compounded 1 times a year
Rate = 6.00 0.06
Amount =P*((n+r)/n)^n

Amount =14000*(1+0.06)^14*1
Amount =14000*(1+0.06)^14
14000*(1.06)^14
Amount =31652.66