To calculate the future value of the investment, we can use the formula for compound interest:

$A = P(1 + \frac{r}{n})^{nt}$

Where:

• $A$ is the amount of money accumulated after $t$ years, including interest.
• $P$ is the principal amount (initial deposit).
• $r$ is the annual interest rate (decimal).
• $n$ is the number of times the interest is compounded per year.
• $t$ is the time the money is invested or borrowed for, in years.

In this case, since the interest is compounded annually, $n = 1$, and we can simplify the formula to:

$A = P(1 + r)^{t}$

Given:

• $P = 8300$ dollars
• $r = 6.5\% = 0.065$
• $t = 14$ years

Now, we can substitute the values into the formula:

$A = 8300(1 + 0.065)^{14}$

Let's calculate that:

$A = 8300(1.065)^{14}$

$A = 8300(2.4436)$

$A \approx 20,290.88$

So, the amount in the account after 14 years will be approximately $20,290.88.

Let me know if you'd like further details or have other questions!

Here are 5 related questions you might find interesting:

1. How would the result change if the interest were compounded quarterly instead of annually?
2. What is the effect of increasing the interest rate on the future value?
3. How much interest would be earned over the 14 years?
4. How would the future value change if the investment period was only 10 years?
5. What happens to the future value if the principal amount is doubled?

Tip: Always ensure you know how often interest is compounded when using the compound interest formula. The frequency of compounding can significantly affect the final amount!