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.
+1223 The formula is A=P(1+rn)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.
