An investment of $10,000 is made in a government bond that will pay 6% interest compounded annually. At the end of four years, what is the total number of dollars in this investment? Express your answer to the nearest whole number.

Guest Feb 11, 2021

#1**0 **

The formula is \(A = P(1 + \frac{r}{n})^{nt}\), where:

P = principal (starting amount)

r = annual rate

n = compound type (annually)

t = time in years

Plug in P = 10,000, r = 6%, n = 1, and t = 4 to get A = $**12624.**

CubeyThePenguin Feb 20, 2021