Question

future value = P × (1+ i)t `"present value" = "P" / (1 + i)^"t"` What would be the value of $100 after 10 years if you earn 11 percent interest per year?

Answer 1

Answer:  $283.94

Step-by-step explanation:

$A=P(1+r)^t\\\\\bullet P=100\\\bullet r=11\% \implies 0.11\\\bullet t=10\\\\\\A=100(1.11)^{10}\\.\ =283.94$