Question

one deposit of $1,200 earing 4% over 10 years. What will the value be?

I do not know how to do this problem.

Answer 1

What would the equation be?

Answer 2

You would multiply the current amount by .04, and just do this 10 times.

Answer 3

Interest=Principle x Rate x Time (in years)
x=(1200)(.04)(10)
x=480
At the end of the ten years the amount would total $1680.00