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natita [175]
2 years ago
11

Find the future value of 1000 at 7 % interest compounded annually for 10 years.​

Mathematics
2 answers:
ser-zykov [4K]2 years ago
8 0

The future value of 1000 with annual compounding for 10 years is $1967.15.

The formula for calculating with annual compounding is:  

FV = P (1 + r)^n  

  • FV = Future value  
  • P = the amount deposited
  • R = interest rate  
  • N = number of years  

1000 x (1.07)^10 = $1967.15

To learn more about future value, please check: brainly.com/question/18760477

adell [148]2 years ago
5 0

Answer:

1967.15

Step-by-step explanation:

1000 x 1.07^10 = 1967.15

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Step-by-step answer:

We are looking at the coefficient of the 22nd term of (x+y)^25.

Following the sequence, first term is x^0y^25, second term is x^1y^24, third term is x^2y^23...and so on,  22nd term is x^21y^4.

The twenty-second term of (x+y)^25 is given by the binomial theorem as

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The coefficient required is therefore 12650, for a binomial with unit valued coefficients.

For other binomials, substitute the values for x and y and expand accordingly.

Question would have been more clearly stated if the actual binomial was given, as commented above.

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