Algebra-1

1. Use the compound interest formula:

The formula for compound interest is , where:

 is the final amount of the investment.

 is the principal amount (the initial investment). Here, = $.

 is the annual interest rate as a decimal. Given an annual interest rate of , so .

 is the number of years. Here, .

2. Substitute the values into the formula:

.

First, calculate the value inside the parentheses: