Farrooh F. answered • 12/24/20

Professional Tutor of Physics and Math: SAT/ACT/GRE Quantitative

For this problem, use the Annual Compound Interest formula.

A = P(1 + r/n)^{nt}

Here P is the principal amount, P = $10,000, r is the rate in decimals, r = 0.11, n is the number of compounding periods per unit t, t is time, A is the accrued amount.

Now can you calculate it?

Hint: since you are compounding *annually*, n = 1, and t = 10 (for 10 years), t = 20 (for 20 years), etc.

Let me know if you need further help.