Answer:
To find the amount of money after 10 years, we can use the formula for compound interest: A = P(1 + r/n)^(nt)
Where:
A = the amount of money after 10 years
P = the initial investment (24000 birr)
r = the interest rate (4%)
n = the number of times the interest is compounded per year
t = the number of years
In this case, since the interest is compounded annually, n = 1.
So,
A = 24000(1 + 0.04)^(1*10)
A = 24000(1.04)^10
A = 24000(1.46) = 24000*1.46 =35,040 birr
So, after 10 years the total amount of money will be 35,040 birr.