$600 invested with compound interest at a rate of 4% per year for 10 years formula:M= P(1+i)^n

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asked Sep 3, 2022 149k views

1 Answer

Maury · Answer 1 · 2022-09-06T16:49:35+0000

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$

$600 invested with compound interest at a rate of 4% per year for 10 years formula:M= P(1+i)^n

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