Answer:
$73,571
Step-by-step explanation:
To solve this problem we can use the following formula:
P = Po * ((1 + r)^t - 1) / r
Where P is the final value, Po is the investment, r is the rate and t is the time. So, we have that:
P = 2000 * ((1 + 0.06)^20 - 1)/0.06
P = 2000 * 2.207135 / 0.06
P = 73,571
The amount of investment after 20 years is $73,571.
