Question

If you invest $10,000 today at 10% interest how much will you have in 10 years

Answer 1

$25940

Explanation:

Future value of an Investment at r% for n years is given by:

Future Value = Initial Investment (1 + r/100)n

If r = 10% and n = 10 years

Future Value = 10000(1 + 10/100)10

= 10000(1.1)10

= 10000(2.594)

= $ 25940

Hence the required value is $ 25940.