Question

John invests $10,000 for two years at 10% compounded annually. How much will John have after the two years?@britbrat4290

Answer 1

A = 10,000 (1 + 0.1) ^ 2

$12,100

Answer 2

The formula for annual compounding is:

\[A = P(1 + r)^t\]

A=Account Balance
P=Principal
r=rate (decimal form)
t=time (in years)

Answer 3

thanks @britbrat4290

Answer 4

no prob :)