Math Question Need to be answer

Question

Find the accumulated value of an investment of $12000 for 5 years at an interest rate of 6%.

Answer 1

Assuming annual compound interest...

100%+6% = 106% = 1.06

1.06^5 = 1.3382255776

so it accumulates 33.82255776 % of it's original value...

multiplying by the original principal:

]12000 * 1.3382255776 =

16,058.70