Answer:
$716.34
Step-by-step explanation:
The Simple formula for compound interest:
[tex]P(1+\frac{r}{100} )^t[/tex]
P = Principle Amount
r = Rate
t = Time
Substituting the numbers into the formula:
[tex]400(1+\frac{6}{100} )^{10}[/tex]
= 716.339078617
≈ $716.34 (Rounded off to two decimal places)
