### Question Description

## Explanation & Answer

Thank you for the opportunity to help you with your question!

The formula for annual compound interest is **A = P (1 + r/n) ^ nt**:

**Where:**

**A** = the future value of the investment/loan, including interest**P** = the principal investment amount (the initial deposit or loan amount)**r** = the annual interest rate (decimal)**n** = the number of times that interest is compounded per year**t** = the number of years the money is invested or borrowed for

=224,781.61

Please let me know if you need any clarification. I'm always happy to answer your questions.