The future value of a $100 deposit in 10 years at 10% is $259.37.

Name: The future value of a $100 deposit in 10 years at 10% is $259.37.
Brand: Quizplus
Rating: 4.8 (41 reviews)

Question

Quizplus · Accepted Answer

Using the formula for future value of a single deposit:

FV = PV*(1+r)^n

Where:
PV = present value or initial deposit 
r = annual interest rate 
n = number of periods or years

Plugging in the given values:

FV = 100*(1+0.1)^10
FV = $259.37

Therefore, the statement is true.

The Future Value of a $100 Deposit in 10 Years