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Popular Word Problems >

Calculate the future value of GBP10,000 received today if it is deposited at 10 percent for three years.

Solution

C a l c u l a t e t h e f u t u re v a l u e o f GBP 10, 000 rece i v e d t o d a y i f i t i s d e p os i t e d a t 10 p erce n t f or t h ree ye a rs .

Solution

Amount : 13000

Solution steps

Translate the problem into an equation:

A = 10000 (1 + 0.1 \cdot 3)

10000 (1 + 0.1 \cdot 3) = 13000

Amount : 13000

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