Answer:
$ 958.10
Step-by-step explanation:
Given that
Initial investment P=$ 535
Need to find future worth A=?
Interest rate= 6%
time n= 10 yr
We know that formula for compound interest
\(A=P\left ( 1+\dfrac{r}{100} \right )^n\)
Now by putting the values
\(A= 535\left ( 1+\dfrac{6}{100} \right )^{10}\)
A=$ 958.10
So the investor will get $ 958.10 in 10 years.
