Answer:
$1,124.86.
Explanation:
To calculate the future value of an investment with compound interest, you can use the formula:
FV= P X (1+r/n)^nt
FV is the future value of the investment.
P is the principal amount (initial investment).
r is the annual interest rate (as a decimal).
n is the number of times interest is compounded per year.
t is the number of years.
Using the values given in the problem, we can find an equation for the problem and solve.
