Question

$600 invested with compound interest at a rate of 4% per year for 10 years

formula:M= P(1+i)^n

Answer 1

Answer: M = 2100$

Step-by-step explanation:

M = P(1 + I)^n

P = 600$, I = 4% = 0.04, n = 10

=> M = 600(1 + 0.04)^10
M = 600(1.04)^10
M = 600(3.5)
M = 2100$