Answer:
$23,700
Step-by-step explanation:
The compound interest formula can be helpful for this. Fill in the given values and solve for the unknown.
FV = P(1 +r/n)^(nt)
where r is the annual interest rate, n is the number of times interest is compounded in a year, t is the number of years, P is the amount invested, and FV is the future value of that investment.
$27,000 = P(1 +0.022/365)^(365·6) = 1.1411037P
P ≈ $23,700
