Question

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

Answer 1

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