Financial Management If you invest 10000 today at 10 interes

Financial Management:

If you invest $10,000 today at 10% interest, how much will you have in 10 years?

Select one:

a. $25,940.

b. $13,860.

c. $3,860.

d. $80,712.

Solution

use:
A=P(1+R/100)^T
=10,000 (1+10/100)^10
=10,000 (1+0.1)^10
=25,940 (approx)

Ans: $25,940