$17,122.63
Step-by-step explanation:
A=P×(1+ r/n)^nt
A is the future value of the investment.
P is the principal amount (the initial investment).
r is the annual interest rate (in decimal form).
n is the number of times interest is compounded per year.
t is the time the money is invested for, in years.
Given:
P = $10,000
r=8.2%
r=8.2%=0.082 (in decimal form)
n=12 (compounded monthly)
t=6 years
A=10000×(1+ 0.82/12)^12x6
A=10000×(1+ 0.006833333)^72
A=10000x(1.006833333)^72
A=10000x1.712263195
A=17122.63
