Suppose you invest $10,000 in a mutual fund that earns 6% annual interest. What is the value of your investment 30 years later?

Question

3 years ago

7

Show both the value and evidence of the thinking you used to calculate the value of the investment.

1 answer:

likoan [24] · Answer 1 · 2022-03-26T23:02:11+03:00

3 0

Answer:

$57400

Step-by-step explanation:

Given data

P= $10,000

R= 6%

T= 30 years

Let us Assume the investment is compounded Anually

A= P(1+r)^t

A=10000(1+0.06)^30

A=10000(1.06)^30

A=10000*5.74

A=$57400

Hence the Final Amount after 30 years compounded anually is $57400