The amount after 21 years would be $16073
Explanation:
Given:
Principal, P = $9000
Time, t = 21 years
Rate, r = 2.8%
Amount, A = ?
We know:
[tex]A = P(1+ \frac{r}{100})^n[/tex]
On substituting the value, we get
[tex]A = 9000(1+\frac{2.8}{100} )^2^1\\\\A = 16073[/tex]
Therefore, the amount after 21 years would be $16073
