Principal amount = P = $500
Time = t = 14 years
Interest rate = r = 8.25% = 0.0825
Amount accumulated = A
Using the formula of compound interest:
[tex]A=P e^{rt} [/tex]
Substituting the values, we get:
[tex]A=500 e^{0.0825(14)}=1587.01
[/tex]
Thus the amount accumulated after 14 years will be $1587.01. Compared to the original amount of $500, this amount is tripled.
