FV = 10,000(1.095^10)
= $24,782.27613, round to $24,782.28
Use the future value formula. You have it.
Today you invest $10,000 in an investment that provides a 9.50% return per year, compounded annually. Assuming no other deposits or withdrawals, what will be the value of the investment ten years from now? Please provide appropriate equation as well as the answer.
