Answer:
[tex]P=\$40840[/tex]
Step-by-step explanation:[tex]I=840[/tex]
From the question we are told that:
Time interval [tex]t=50-40=>10years[/tex]
Annual contribution [tex]X= 4*1000=>\$4000[/tex]
Annual interest rate [tex]r=2.1\%[/tex]
Generally the 10 years interest I is mathematically given by
[tex]I=X*t*r[/tex]
[tex]I=4000*0.021*10[/tex]
[tex]I=840[/tex]
Generally the equation for the future value of the investment [tex]P[/tex] is mathematically given by
[tex]P=X*t+840[/tex]
[tex]P=(4000*10)+840[/tex]
[tex]P=\$40840[/tex]
