Question

5. What is the future value after 15 years of $10,000 invested ioday at 10% interest? A) $23,942 B) $31,772 C) $41,772 D) $45,950

Answer 1

We use the formula:
A=P(1+r/100)^n
where
A=future value
P=present value
r=rate of interest
n=time period.

Hence

A=$10000*(1.10)^15

=$10,000*4.177248169

=$41772(Approx).