Question

Find the future value of $10,000 invested now after five years if the annual interest rate is 8 percent. What would be the future value if the interest rate is a compound interest rate?.

Answer 1

$4,000

Step-by-step explanation:

P- percent

r-rate

t-time

P: 10000

R:8 but u have to move it two spots so it would be 0.08

T:5 years

10,000(0.08) (5) = 4,000

$4,000

That's how I do it. I hope it helps!