How much compound interest will $50,000 earn in 10 years at 3.4% APR compounded yearly, providing no deposits or withdrawals are
made? Hint: Use the formula A = P(1.00 + r)n.
$19,851.44
$63,970.00
$13,970.29
$69,851.44
1 answer:
Answer:
$19,851.44
Step-by-step explanation:
A = 50,000(1.00 + 0.034)^10
= $69,851.44
= 69,851.44 - 50,000
= $19,851.44
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