Answer:
$420
Step-by-step explanation:
This the problem of compound interest
If any amount P is invested at rate of r% per year then its value after n years is given by
amount = [tex]p( 1+ r/100)^n[/tex]
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Given
p = $190
r =8%
n = 10 year then
[tex]amount = p( 1+ r/100)^n\\=> amount = 190( 1+ 8/100)^10\\=> amount = 190( 108/100)^10\\=> amount = 410.20[/tex]
Thus, value of the investment at the end of 10 years is $420.
Answer: 342
Step-by-step explanation:
This is a SIMPLE INTEREST question:
SI = prt
SI = 190 x 0.08 x 10
SI = 152
Amount = 190 + 152 = 342
