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Vhat would be the value of $100 after 10 years if you earn 11 percent interest per year?
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15 votes
15 votes
Vhat would be the value of $100 after 10 years if you earn 11 percent interest per year?

User Ben Greenman
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1 Answer

3 votes
3 votes

Answer:

about $283.94

Explanation:

P= $100

t= 10 years

r = 11%/ year = 0.11/year

A = P ( 1+ r) ^t

A = 100(1+0.11) ^10

A = 100* 1.11^10

A ≈ $283.94

User Maxrunner
by
3.5k points
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