Question

If you invest $100 at 10 percent compounded annually, how much money will you have at the end of 3 years?

Answer 1

The amount I would have at the end of 3 years is $133.10.

How much would I have at the end of the 3 years?

When an amount is compounded annually, both the amount invested and the interest accrued increase in value one a year.

The formula for calculating future value:

FV = P (1 + r)^n

• FV = Future value
• P = Present value
• R = interest rate
• N = number of years

$100 x (1.1^3) = $133.10

To learn more about future value, please check: https://brainly.com/question/18760477

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