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29 August, 13:56

How much compound interest will $50,000 earn in 10 years at 3.4% APR compounded yearly, providing no deposits or withdrawals are made? Hint: Use the formula A = P (1.00 + r) n.

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  1. 29 August, 14:23
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    If you use the data properly and the formula like this:

    A = 50000 (1 + 0.034) * 10

    then you will know that the compund interest will be: 0.034

    Hope this works for you
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