Question

What is the present value of $100000 and the rate of interest of 6% for 10 years

Answer 1

100 000 * 1.06^10
179 084.77$

Answer 2

how did you derive at this answer

Answer 3

well, the 1.06 is
100% + 6%
which is 100/100 + 6/100
1.06
as it is the % of % of % etc for 10 years, its exponential
so, 1.o6^10 multiplied by the original placement
and we get the answer.

Answer 4

okay thanks so now I can do the others the same way