Question

An amount 500 is deposited in a bank which pays annual interest at the rate of 10%
compounded annually. What will be the value of this deposit at the end of 10 year?​

Answer 1

Answer:

1296.871

Step-by-step explanation:

Very simple Question

R = 10%

So, It's value is increasing 1.10 times every year

After 10 years,

The value of 500 on 10% per annum compounded annually will be

500 × (1.10)¹⁰

= 1296.871