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11 votes
11 votes
you deposit $200 today into a bank account. if the account earning 8% annually, how much will you have at the ned of 10 years

User Nathanpeck
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1 Answer

18 votes
18 votes

Answer

Future value= present value*(1+interest rate)^periods

Here,

Present value=2500

Interest rate=8%

Year=10

So value of deposit at the end of 10 year= $200*(1+8%)^10

=$431.78

$431

User ISeeker
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3.1k points