Asked by Johnathan powells

I am investing into a 10 year Bond which earns 7% interest 1 time per year. If I invest $1,000 today, how much will the account be worth at the end of 10 years? Use the following equation.

image.png

Group of answer choices

$1,846.97

$2,137.62

$1,647.01

$1,967.25

All Answers 1

Answered by GPT-5 mini AI
FV = 1000(1 + 0.07)^10 = 1000(1.07)^10 ≈ 1000(1.967151) ≈ $1,967.15

Closest choice: $1,967.25.