Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

john Vincent invested $10,000 in a savings account. The account pays 4% annual interest. John will have how much in ered the account at the

image text in transcribed

john Vincent invested $10,000 in a savings account. The account pays 4% annual interest. John will have how much in ered the account at the end of 10 years? Round to the nearest dollar 1.00 the table below may help you answer this question) Compound Velue Interest Factons stion Period 2% 4% 6% 8% 10% 12% 15% 1 10200 10400 10600 1800 1.1000 1,1200 11500 1.2000 1.0404 10816 1.1236 16640 12100 12544 1.3225 14400 1,0612 1.1249 1,1910 12597 13310 1.4019 15209 1.728o 4 1.0824 1.1699 12625 13605 1.4641 15735 1.7490 20736 5 1.1041 12167 13382 1.4693 1610s 1.7623 20114 24883 6 1.1262 12653 14185 15869 12716 1.9738 23131 2.960 7 1.1487 13159 15036 1.138 19487 22107 26600 35832 8 11717 13686 15938 18509 2.1436 24760 30590 299 9 1.1951 14233 16895 1.9990 23579 2.7731 35179 $.1598 10 12190 14802 1.7908 2.1589 25937 31058 40456 6.1917 11 1.2434 15395 18983 23316 28531 34785 46524 74301 12 1.2682 16010 20122 25182 3154 3896o s3s02 9161 13 12936 16651 2.1329 2.7196 34523 43635 6.1528 10.6990 14 13195 17317 22609 2.9372 33975 48871 70757 12.8390 15 1345s 18009 23966 31722 41772 54736 8.1371 15.4070 16 13728 18730 25404 34259 45950 .1304 93576 18.4880 1A0 19479 2.6928 3.7000 S.0545 68660 10.7610 22.1860 18 14282 20258 28543 3.9960 $5599 76900 12 3750 26.6230 36 Fnis 19 14568 2.1068 30256 43157 6.1159 86128 14.2310 31.9480 20 14859 2.1911 32071 46610 62275 96463 16.3660 38 3320 Select one: a. A. $14.802 b, B. 5 1 4.984 . $16.010 d.D.$16.311 :0 E. None of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics For Financial Markets

Authors: Brian Kettell

1st Edition

0750653841, 978-0750653848

More Books

Students also viewed these Finance questions