We have to find the,
Accumulated amount at end of 12 years.
The formula we use,
→ A = P(1+r)^t
It is given that,
→ P = $4000
→ t = 12 years
Then r will be,
→ 6%
→ 6/100
→ 0.06
Then the total amount is,
→ P(1+r)^t
→ 4000 × (1 + 0.06)^12
→ 8048.79
Thus, $ 8048.79 is the amount.
