future value = P × (1+ i)t `"present value" = "P" / (1 + i)^"t"` What would be the value of $100 after 10 years if you earn 11 percent interest per year?

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asked Dec 6, 2020 25.8k views

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future value = P × (1+ i)t `"present value" = "P" / (1 + i)^"t"` What would be the value of $100 after 10 years if you earn 11 percent interest per year?

Mathematics
middle-school

Makeyourownmaker asked

by Makeyourownmaker

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Answer: $283.94

Explanation:

$A=P(1+r)^t\\\\\bullet P=100\\\bullet r=11\% \implies 0.11\\\bullet t=10\\\\\\A=100(1.11)^(10)\\.\ =283.94$

AshHimself answered Dec 11, 2020

by AshHimself

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