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2 years ago

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

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