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Amy invests $10,000 in an account that pays 1% compound interest annually. She uses the expression P(1+r)t to find the total value of the account after t years. What will be the…

Amy invests $10,000 in an account that pays 1% compound interest annually. She uses the expression P(1+r)t to find the total value of the account after t years. What will be the…
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Amy invests $10,000 in an account that pays 1% compound interest annually. She uses the expression P(1+r)t to find the total value of the account after t years. What will be the total value of the account after 10 years?

User Moli
by
8.2k points

2 Answers

4 votes

Answer:

11046.22

Explanation:

User The Cookies Dog
by
8.5k points
1 vote
10000(1+0.01)^10 = 11046.22

The value would be $11046.22
User Bohne
by
8.5k points
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