Question

A principal of $3500 is invested at 5% interest, compounded annually. How much will the investment be worth after 10 years?

Use the calculator provided and round your answer to the nearest dollar.

Answer 1

$5250.00

Explanation:

3500 x 5% x 10

3500 x 0.05 x 10 = 1750

Then add 3500 with 1750

$5250.00

Answer 2

$5250.00

Explanation:

3500 x 5% x 10

3500 x 0.05 x 10 = 1750

add 3500 with 1750

$5250.00

that is what i got