Let's use the formula for compounding interest.
F = P(1+i)^n
where
P is the present worth
i is the interest
n is the number of years
F is the future worth or future value
Substituting the values,
P = 700; i = 0.04; n = 10
F = 700 (1+0.04)^10
F = 1,036.71
Hence, after 10 years, the future value would be 1,036.71.
