Find the Accumulated Amount a If the Principal P =

question 108

Short Answer

Find the accumulated amount A if the principal P = $2,000 is invested at the interest rate of r = 5% per year for t = 6 years, compounded annually. Please round your answer to the nearest cent.
A = $ __________

---

Definitions:

Material Handling

The logistics of moving, protecting, warehousing, managing, and disposing of materials and products from the start of production, through the distribution process, to consumption and eventual elimination.

Investment Costs

Expenses associated with the acquisition of new assets, facilities, or equipment intended to increase the capacity, efficiency, or capabilities of a business.

Pilferage

A small amount of theft.

Holding Costs

Expenses related to keeping inventory in storage, including warehousing, insurance, and spoilage costs, which are part of the overall inventory carrying costs.