Dave put $22,000 in an investment that is compounded yearly at a rate of 7%. The investment is over a 15-year period. What is the amount of Dave’s total investment?

Answer 1

Is this is a trick question? $22,000 is the initial investment!

If you are asking how much interest he makes over the 15 years with a $22,000 investment at 7% APR, that is $38,698.69.