Answer:
$11,289.48
Explanation:
The computation is shown below:
Given that
Amount = $20,000
Time period = 6 years
Interest rate = 10%
For this question, we use the formula that is presented below:
A = P × (1 + r)^n
where,
A = Amount
P = Principal
r = rate
t = time period
So,
$20,000 = P × (1 + 0.10)^6
$20,000 = P × 1.771561
So, P equal to
= $11,289.48
