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How much compound interest will $50,000 earn in 10 years at 3.4% APR compounded yearly, providing no deposits or withdrawals are made? Hint: Use the formula A = P(1.00 + r)n.

How much compound interest will $50,000 earn in 10 years at 3.4% APR compounded yearly, providing no deposits or withdrawals are made? Hint: Use the formula A = P(1.00 + r)n.
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How much compound interest will $50,000 earn in 10 years at 3.4% APR compounded yearly, providing no deposits or withdrawals are made? Hint: Use the formula A = P(1.00 + r)n.

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User Martin G
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1 Answer

7 votes
If you use the data properly and the formula like this:
A = 50000(1 + 0.034)*10
then you will know that the compund interest will be: 0.034
Hope this works for you
answered
User Adriano
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7.5k points
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