Answer: $ 1959.66
A = Accumulated Amount
P = Principle / first contribution ($10)
PMT = Regular contributions / additional money added to investment) ($10)
r = Interest rate (9% / 0.09)
n = compounding frequency per year (12 = monthly, 4 = quarterly, 2 = semi-annually, 1 = annually
) (12)
t = number of years (10)
Plug the numbers into this formula and your calculator should get 1959.66
Formula: A = P (1 + r/n) + PMT (1+r/n) to the power of nt -1
(r/n)
