If you invest $10,000 at 10% interest, how much will you have in 10 years?
A) $13,860
B) $25,940
C) $3,860
D) $80,712

Question

Quizplus · Accepted Answer

To calculate the future value of an investment, we can use the formula: FV = PV x (1 + r)^n, where FV is the future value, PV is the present value or initial investment, r is the interest rate, and n is the number of years. Applying this formula here:

FV = $10,000 x (1 + 0.1)^10
FV = $10,000 x 2.5937
FV = $25,937.50

Rounding this answer to the nearest dollar gives us:
$25,940

Therefore, the correct answer is B.

If You Invest $10,000 at 10% Interest, How Much Will