Question

If a person invests $230 at 10% annual interest, find the approximate value of the investment at the end of 10 years

Answer 1

Hello Dear,

◆ Answer -

Total returns = 460 $

◆ Explanation -

# Given -

Principal = $ 230

Rate of interest = 10 p.c.p.a.

Time = 10 years

# Solution -

Interest obtained over 10 years is -

Interest = Principal × interest rate × time

Interest = 230 × 10/100 × 10

Interest = 230 $

So total value of investment after 10 years is -

Total returns = Principal + Interest

Total returns = 230 + 230

Total returns = 460 $

Therefore, total value of investment after 10 years is 460 $.

Thanks dear...