Question

Ruben puts $40,600 in an account that earns 0.9% interest compounded annually. If
he leaves his investment in the account how much will be in his account after 10
years?

Answer 1

Answer:

$a = 40600(1 + \frac{0.009}{1} ) {}^{10} = 40600 \times 1.0937 = 44405.6$