Question 1034183
f = p * (1+r)^n


f is the future value
p is the present value
r is the interest rate per time period.
n is the number of time periods.


with annual compounding (1 compounding period per year), r = .12
with p = 20,000, the formula becomes f = 20,000 * 1.12^n


at the beginning of the 20th year, the amount in the account will be f = 20,000 * 1.12^20 = 192,925.8619