Answer:
B) 283.94
Step-by-step explanation:
Here we have to use the compound interest formula.
A = [tex]P(1 + \frac{r}{100} )^n[/tex]
Where A is the amount, P is the principle, r is the rate and n is the number of years.
Given: P = $100, r = 11, n = 10
Plug in the given values in the above formula, we get
A = 100(1 + 11/100)^10
A = 100(1 + 0.11)^10
A = 100(1.11)^10
A = $283.94
The answer is B) 283.94
