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2. Joseph has $10,000 to invest. He goes to Met Bank that pays 4% interest compounded annually. How much will Joseph have in the bank after 10 years?
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12 votes
2. Joseph has $10,000 to invest. He goes to Met Bank that pays 4% interest compounded annually.

How much will Joseph have in the bank after 10 years?

User Tarequeh
by
4.7k points

2 Answers

12 votes

Answer:

£14000

Explanation:

10000x0.04=400

400 per year for 10 years=4000

4000+10000=14000

User Nam San
by
5.2k points
2 votes

10x4=40

40x100=4000

he will have $4000 in the bank

User Eduard Void
by
5.1k points
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