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If a person invests $230 at 10% annual interest fund the approximate value of the investment at the...
5 months ago
Q:
if a person invests $230 at 10% annual interest fund the approximate value of the investment at the end of 10 years
Accepted Solution
A:
If it is simple interest rate
10% of $230 = 0.1 x 230 = 23
23 x 10 years = 230
total = 230 + 230 = $460
If it is compounded
230(1+0,1)^10 = $596.56