Answer :
The compound interest formula is:
[tex]A=P(1+\frac{r}{m})^{mt}\begin{cases}A=amount \\ P=initialValue \\ r=interest \\ m=\#timesCompounedPerYear \\ t=years\end{cases}[/tex]Therefore:
[tex]A=(10000)(1+\frac{0.11}{1})^{20}=80623.12[/tex]The compound interest formula is:
[tex]A=P(1+\frac{r}{m})^{mt}\begin{cases}A=amount \\ P=initialValue \\ r=interest \\ m=\#timesCompounedPerYear \\ t=years\end{cases}[/tex]Therefore:
[tex]A=(10000)(1+\frac{0.11}{1})^{20}=80623.12[/tex]