Answer:
= $ 11,089.19
Explanation:
Using the formula A = Pe^(r*t).
Where A is the accrued amount,
r is the annual nominal rate of interest as a decimal,
P is the principal amount, and
t is the time involved in years
Therefore;
A = Pe^(r*t).
r = 0.06; P = 3340; t = 20.
A = 3340 × e^(0.06×20)
= 11,089.19
= $11,089.19
