Calculate, to the nearest cent, the future value FV (in dollars) of an investment of $10,000 at the stated interest rate after the stated amount of time.
2% per year, compounded annually, after 12 years
FV = $ 

The future value (FV) of an investment can be calculated using the formula for compound interest:

\[
FV = P \times \left(1 + \frac{r}{n}\right)^{nt}
\]

Where:
- $ P $ is the principal amount (initial investment),
- $ r $ is the annual interest rate (as a decimal),
- $ n $ is the number of times the interest is compounded per year,
- $ t $ is the time the money is invested for (in years).

In this case:
- $ P = 10,000 $,
-

Calculate, to the nearest cent, the future value FV (in dollars) of an investment of $10,000 at the stated interest rate after the stated amount of time. 2% per year, compounded annually, after 12 years

Learn how to calculate the future value (FV) of an investment of $10,000 at an annual interest rate of 2%, compounded annually, after 12 years. This problem explores key concepts in finance such as compound interest and exponential growth. Suitable for students in Grades 10-12.

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