John Vincent invested $10,000 in a savings account. The account pays 4% annual interest. John will...

 

Transcribed Image Text:

John Vincent invested $10,000 in a savings account. The account pays 4% annual interest. John will have how much in the account at the end of 10 years? Round to the nearest dollar... (the table below may help you answer this question) Compound Value Interest Factors Period 2% 4% 6% 896 10% 12% 15% 20% 1 2 1.0200 1.0400 1.0600 1.0404 1.0816 1.1236 1.0800 1.6640 3 1.0612 1.1249 1.1910 1.2597 4 1.0824 1.1699 1.2625 1.3605 5 1.1041 1.2167 13382 1.4693 1.4641 1.5735 16105 1.7623 6 1.1262 1.2653 1.4185 1.5869 17716 1.9738 7 1.1487 1.3159 1.5036 1.7138 19487 22107 1.1000 1.1200 1.1500 1.2000 1.2100 12544 1.3225 1.4400 13310 1.4049 1.5209 1.7280 1.7490 2.0736 2.0114 2.4883 2.9860 3.5832 2.3131 26600 1.1717 13686 15938 1.8509 2.1436 24760 3.0590 4.2998 9 1.1951 1.4233 1.6895 1.9990 2.3579 2.7731 35179 5.1598 10 1.2190 1.4802 1.7908 2.1589 2.5937 3.1058 40456 6.1917 11 12 13 1.2434 15395 1.8983 1.3682 1.6010 20122 1.2936 1.6651 2.1329 2.3316 28531 34785 46524 74301 2.5182 3.1384 3.8960 2.7196 34523 43635 5.3502 8.9161 6.1528 10.6990 14 1.3195 17317 2.2609 2.9372 37975 4.8871 70757 12.8390 15 1.3459 1.8009 2.3966 3.1722 4.1772 54736 8.1371 15.4070 16 1.3728 1.8730 25404 3.4259 17 1.4002 19479 26928 3.7000 18 14282 19 1.4568 20 14859 2.0258 28543 2.1068 3.0256 2.1911 3.2071 3.9960 43157 46610 45950 6.1304 5.0545 6.8660 55599 76900 6.1159 86128 67275 9.6463 9.3576 18.4880 10.7610 22.1860 12.3750 26.6230 14.2310 31.9480 16.3660 383370 John Vincent invested $10,000 in a savings account. The account pays 4% annual interest. John will have how much in the account at the end of 10 years? Round to the nearest dollar... (the table below may help you answer this question) Compound Value Interest Factors Period 2% 4% 6% 896 10% 12% 15% 20% 1 2 1.0200 1.0400 1.0600 1.0404 1.0816 1.1236 1.0800 1.6640 3 1.0612 1.1249 1.1910 1.2597 4 1.0824 1.1699 1.2625 1.3605 5 1.1041 1.2167 13382 1.4693 1.4641 1.5735 16105 1.7623 6 1.1262 1.2653 1.4185 1.5869 17716 1.9738 7 1.1487 1.3159 1.5036 1.7138 19487 22107 1.1000 1.1200 1.1500 1.2000 1.2100 12544 1.3225 1.4400 13310 1.4049 1.5209 1.7280 1.7490 2.0736 2.0114 2.4883 2.9860 3.5832 2.3131 26600 1.1717 13686 15938 1.8509 2.1436 24760 3.0590 4.2998 9 1.1951 1.4233 1.6895 1.9990 2.3579 2.7731 35179 5.1598 10 1.2190 1.4802 1.7908 2.1589 2.5937 3.1058 40456 6.1917 11 12 13 1.2434 15395 1.8983 1.3682 1.6010 20122 1.2936 1.6651 2.1329 2.3316 28531 34785 46524 74301 2.5182 3.1384 3.8960 2.7196 34523 43635 5.3502 8.9161 6.1528 10.6990 14 1.3195 17317 2.2609 2.9372 37975 4.8871 70757 12.8390 15 1.3459 1.8009 2.3966 3.1722 4.1772 54736 8.1371 15.4070 16 1.3728 1.8730 25404 3.4259 17 1.4002 19479 26928 3.7000 18 14282 19 1.4568 20 14859 2.0258 28543 2.1068 3.0256 2.1911 3.2071 3.9960 43157 46610 45950 6.1304 5.0545 6.8660 55599 76900 6.1159 86128 67275 9.6463 9.3576 18.4880 10.7610 22.1860 12.3750 26.6230 14.2310 31.9480 16.3660 383370

Answer rating: 100% (QA)

To calculate the future value of the 10000 investment ... View the full answer