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Suppose your​ friend's parents invest $10,000 in an account paying 4% compounded annually. What will the balance be after 10​years?

Suppose your​ friend's parents invest $10,000 in an account paying 4% compounded annually. What will the balance be after 10​years?
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Suppose your​ friend's parents invest $10,000 in an account paying 4% compounded annually. What will the balance be after 10​years?

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User Moses Lee
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1 Answer

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using exponential function f(x)=10,000(1.04)^x

when x=10 years
the answer would be 14,802.44

answered
User Paweldac
by
8.1k points
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