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On a deposit of $10,000 that earns 4% compound interest (compounded annually), how much will you have after 8 years? 3,200.00 $13,200.00 $13,604.89 $13,685.69
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On a deposit of $10,000 that earns 4% compound interest (compounded annually), how much will you have after 8 years?

3,200.00
$13,200.00
$13,604.89
$13,685.69

User Ahasbini
by
8.1k points

1 Answer

2 votes

Answer:

$13,685.69

Explanation:

A = P (1 + r)ⁿ

A = $10,000 (1 + 0.04)⁸

A = $10,000 x 1.368569

A = $13,685.69

User Bitgandtter
by
9.3k points
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