Answer:
In the end, $16600 has turned into $3159.30.
Step-by-step explanation:
Notice that at each compounding step above, the new principal can be found by applying this formula:
NewPrincipal = CurrentPrincipal × (1 + r)
where r is your interest rate at the time of compounding, in this case -14% (or -0.14 in the calculations).
As an example, look at the first compounding step:
$14276.00=$16600.00 × (1 + -0.14).
And the second:
$12277.36=$14276.00 × (1 + -0.14).
In fact, the whole compound interest amount boils down to multiplying (1+r), or (1+-0.14), times your original principal 11 times (11 years at 1 compouding(s) per year).
Mathematically though, this is equivalent to multiplying your orginial principal by the factor (1+-0.14)11.
If we do this, we'll get that your final amount is:
$16600.00 × (1+-0.14)11=$3159.30
