10. Giovanni invests 4500 koruna in a savings account for 4 years. He gets \( 2.4 \% \) per year compound interest. Work out how much money Giovanni will have in the savings account at the end of 4 years. Give your answer correct to the nearest koruna.

To calculate the amount of money Giovanni will have in the savings account at the end of 4 years, we can use the formula for compound interest: \[ A = P \times (1 + r)^n \] Where: - \( A \) is the amount of money Giovanni will have at the end of 4 years. - \( P \) is the principal amount Giovanni invested (4500 koruna). - \( r \) is the annual interest rate (2.4%). - \( n \) is the number of years (4 years). Substitute the given values into the formula: \[ A = 4500 \times (1 + 0.024)^4 \] Now, we can calculate the amount of money Giovanni will have at the end of 4 years. Calculate the value by following steps: - step0: Calculate: \(4500\left(1+0.024\right)^{4}\) - step1: Add the numbers: \(4500\times 1.024^{4}\) - step2: Convert the expressions: \(4500\left(\frac{128}{125}\right)^{4}\) - step3: Simplify: \(4500\times \frac{128^{4}}{125^{4}}\) - step4: Rewrite the expression: \(125\times 36\times \frac{128^{4}}{125^{4}}\) - step5: Reduce the numbers: \(36\times \frac{128^{4}}{125^{3}}\) - step6: Multiply: \(\frac{36\times 128^{4}}{125^{3}}\) The amount of money Giovanni will have in the savings account at the end of 4 years is approximately 4947.80 koruna, correct to the nearest koruna.