The amount after 3 years will be $ 21,206.6
To understand more, check below explanation.
If the amount P is invested at the rate of r% for n years.
Then amount after n years is computed as;
Given that, Principal = $8,800 , r = 7% and n = 13 years.
[tex]A=P(1+\frac{r}{100} )^{n}\\ \\A=8800(1+\frac{7}{100} )^{13} \\\\A=8,800*(\frac{107}{100} )^{13}\\ \\A=\$ 21206.6[/tex]
Hence, the amount after 13 years will be $ 21,206.6
Learn more about the compound interest here:
https://brainly.com/question/24924853
