Answer
$A=\$36,240$
Work Step by Step
The formula for the future value $A$ is:
$A=P(1+rt)$
where
P = principal amount borrowed
r = interest rate per year
t = time in years
Use the formula above to obtain:
$A=\$24000(1+8.5\%\cdot 6)
\\A=\$24000(1+0.085\cdot 6)
\\A=\$24000(1+0.51)
\\A=\$24000(1.51)
\\A=\$36,240$
