A principal of \( \$ 4400 \) is invested at \( 8 \% \) interest, compounded annually. How much will the investment be worth after 14 years? Use the calculator provided and round your answer to the nearest dollar.

To find the future value of an investment compounded annually, you can use the formula: \[ A = P(1 + r)^n \] where: - \( A \) is the amount of money accumulated after n years, including interest. - \( P \) is the principal amount (the initial amount of money). - \( r \) is the annual interest rate (decimal). - \( n \) is the number of years the money is invested or borrowed. Here, \( P = 4400 \), \( r = 0.08 \), and \( n = 14 \). Plugging in the values: \[ A = 4400(1 + 0.08)^{14} \] \[ A = 4400(1.08)^{14} \] Calculating \( (1.08)^{14} \), you will get approximately \( 3.478 \) (rounded to three decimal places). Now, multiply by the principal: \[ A = 4400 \times 3.478 \] \[ A \approx 15299.2 \] Rounding to the nearest dollar, the investment will be worth approximately \( \$15,299 \) after 14 years.