Answer
The final amount after 41 years of growth is approximately $144,302$.
Work Step by Step
RECALL:
Exponential growth is represented by the formula
$y=C(1+r)^x$
where
C = initial/original amount
r - growth rate
x = number of time intervals
The given exponential growth has:
C = 2000
r = $11\%$
x = 41 years
Substitute these value into the given formula above to have:
$y=2000(1+11\%)^{41}
\\y=2000(1+0.11)^{41}
\\y=2000(1.11^{41})
\\y=144,301.9254
\\y\approx 144,302$
