Question

How much compound interest will $50,000 earn in 10 years at 3.4% APR compounded yearly, providing no deposits or withdrawals are made? Hint: Use the formula A = P(1.00 + r)n.
$19,851.44
$63,970.00
$13,970.29
$69,851.44

Answer 1

Answer:

$19,851.44

Step-by-step explanation:

A = 50,000(1.00 + 0.034)^10

=  $69,851.44

= 69,851.44 - 50,000

= $19,851.44