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realthug

  • 2 years ago

John invests $10,000 for two years at 10% compounded annually. How much will John have after the two years?@britbrat4290

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  1. britbrat4290
    • 2 years ago
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    A = 10,000 (1 + 0.1) ^ 2 $12,100

  2. Hero
    • 2 years ago
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    The formula for annual compounding is: \[A = P(1 + r)^t\] A=Account Balance P=Principal r=rate (decimal form) t=time (in years)

  3. realthug
    • 2 years ago
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    thanks @britbrat4290

  4. britbrat4290
    • 2 years ago
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    no prob :)

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