Answer:
$13,304
-We use the compound interest function to determine the rate of growth.
-Given that the amount doubles in 13 years, the annual growth rate is calculated as:
We now substitute this value of i in the compound interest formula equation to solve for future value:
Hence, the future value to the nearest dollar is $13,304
*You can alternatively use the exponential growth function:
This is slightly off by just $1
Step-by-step explanation:
