Answer:
44092.705
Explanation:
Initial amount = 4000
Rate of increase = 12%
Time or period = 20 years
Using the exponential function with the relation :
A = Po * e^rt
Where ; A = final amount ; r = rate ; t = period ; Po = Initial amount
A = 4000 × e^(0.12*20)
A = 4000 * e^(2.4)
A = 4000*11.023176
A = 44092.705
