27000 invested for 40 years at 12 percent compounded annually

Question

how much did  they earn affter 40 years 

Answer 1

A = p(1 + r/n)^nt, p = principal, r = rate, n = number of calculations, t = time

 

A = 27000(1 + 0.12)⁴⁰

A = 27000(1.12)⁴⁰

A = 27000(93.0509704414)

A = 2512376.20

 

I = 2485376.20