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08-01-2021
Mathematics

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Hank put $10,000 in an account for 10 years. The account earned 2.5% interest. How much interest had been earned by the end of the 10 years?

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topdollar topdollar

09-01-2021

Answer:

A = P ( 1+ i )^n

A = 10,000(1+0.025)^10

= 10,000(1.025)^10

= $12,800.84

Step-by-step explanation:

A = future amount

i = interest rate

n = number of years

P = Present value

i.e i = 2.5% , P = $10,000 and n = 10 years

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