Answer:
Amount of worth of bond after 10 tear will be $1628.89
Explanation:
We have given principal amount that new York bond will pay = $1000
Time n = 10 years
Rate of interest = 5 %
We have to find the worth of the bond after 10 year
We know that present value is given by
[tex]A=P(1+\frac{r}{100})^n=1000(1+\frac{5}{100})^{10}=$1628.89[/tex]
So the amount of bond after 10 year will be $1628.89
