The amount of money which would be in the account 12 years from today is:
What is an Investment?
This refers to the amount deposited in a business or financial institution, with the aim of getting return on investment after a period of time.
CI= P( 1 + r/100)^n
P= initial principal
n= number of times interest applied per time period
r= interest rate
t= number of time periods elapsed
A= final amount
=> 2,500 (1 + 0.084)^7
2500( 1.084)^7
= $4,396.88
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