Answer:
The amount after 10 years is $187.57148
Step-by-step explanation:
we are given
amount deposited is $75
so, P=75
time is 10 years
so, t=10
9.6% compounded annually
so, r=9.6%
r=0.096
now, we can use formula
[tex]A=P(1+r)^{t}[/tex]
now, we can plug value
[tex]A=75(1+0.096)^{10}[/tex]
we get
[tex]A=187.57148[/tex]
So,
The amount after 10 years is $187.57148
