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Using the formula: A=p(1+r)t
How much money will Mario have if he puts $1000 in a savings account earning 4% annually after 10 years?
Select one:
O a. $1004
O b. $1428.24
• c. $1000
© d. $2156.01

Respuesta :

adioabiola

The amount of money Mario will have if he puts $1000 in a savings account earning 4% annually after 10 years is $1,480

Compound interest

A = p(1 + r)^t

  • p = $1000
  • r = 4% = 0.04
  • t = 10 years

A = p(1 + r)^t

= 1000(1 + 0.04)^10

= 1000(1.04)^10

= 1000(1.48)

A = $1,480

Learn more about compound interest:

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