SOLUTION: If you have $100 in the bank now that is growing at a rate of 4% a year, how many dollars will you have in the bank 10 years from now?

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Question 920012: If you have $100 in the bank now that is growing at a rate of 4% a year, how many dollars will you have in the bank 10 years from now?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
Simple or Compounded Interest?
compounded Interest
In General A%28t%29+=+P%281%2Br%2Fn%29%5E%28nt%29
A = Accumulated Amount
P= principal =
r= annual rate = .04
n= periods per year = 1
t= years =
A%28t%29+=100%281.04%29%5E%2810%29 = $148.02