Answer:
$15400
Step-by-step explanation:
Principle amount, P = $14000
Time, T = 1 year
Rate of interest, R = 10%
We know that maturity amount,
[tex]A = P\left (1+\frac{R}{100} \right )^{n}[/tex]
where n is number of years
[tex]A = P\left (1+\frac{R}{100} \right )^{n}[/tex]
[tex]A = 14000\left (1+\frac{10}{100}\right )^{1}[/tex]
[tex]A = 14000\left (1+\frac{1}{10}\right )[/tex]
[tex]A = 14000\left (\frac{11}{10}\right )[/tex]
[tex]A = 15400[/tex]
The maturity amount is $15400