If Matilda purchases the painting for 10000 dollars and assumes a growth rate of 5% pa calculate the value of the investment after 2 years using compound interest

Solución

Solución

Amount : 11025

Pasos de solución

Translate the problem into an equation:

A = 10000 (1 + \frac{0.05}{1})^{1 \cdot 2}

10000 (1 + \frac{0.05}{1})^{1 \cdot 2} = 11025

Amount : 11025

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