Final answer:
To have $10,000 in ten years in a bank account with 10% interest compounded annually, you need to deposit $3,855.43 today.
Step-by-step explanation:
To calculate how much money you need to deposit today to have $10,000 in ten years at an interest rate of 10% compounded annually, you can use the formula for the compound interest present value:
P = A / (1 + r/n)^(nt)
Where:
Plugging the numbers in:
P = 10,000 / (1 + 0.10/1)^(1*10)
P = 10,000 / (1.10)^10
P = 10,000 / 2.5937424601
P = 3,855.43
Therefore, you would need to deposit $3,855.43 into a bank account today to have $10,000 in ten years, given a 10% interest rate compounded annually.