Calculting interest on investment
Given an investment of 9550000 USD I want to know what the value of this investment is after one year if I have to pay 10% of interest per year.
According to my understanding, that would be 90% of the investment which equals to 8595000 USD.
According to the solutions, however, it is 8681818 USD.
I can see that this is around 91% of the initial investment. Which formula for the calculation of interests, however, is used to arrive at this?
**Hint:** You discount the investment. That means you divide it by $(1+i)=(1+0.1)=1.1$