To calculate the compound interest of an investment, we shall use the following formula;
[tex]A=P(1+r)^t[/tex]Where the variables are;
[tex]\begin{gathered} A=\text{amount after 13 years} \\ P=\text{Initial amount invested} \\ r=\text{rate of interest} \\ t=\text{time (in years)} \end{gathered}[/tex]With the information available, we can calculate the amount of this investment after 13 years as follows;
[tex]\begin{gathered} A=2200(1+0.085)^{13} \\ A=2200(1.085)^{13} \\ A=2200\times2.8879 \\ A=6353.38 \end{gathered}[/tex]ANSWER:
The investment after 13 years would be worth $6,353.38
