Register

How much compound interest will an account of $10,000 bear after 5 years at 3% APR, compounded annually?

How much compound interest will an account of $10,000 bear after 5 years at 3% APR, compounded annually?
asked 151k views
5 votes
How much compound interest will an account of $10,000 bear after 5 years at 3% APR, compounded annually?

asked
User Senthilkumar
by
8.4k points

1 Answer

5 votes
A=10,000×(1+0.03)^(5)
A=11,592.74

Interest earned
11592.74-10000=1592.74
answered
User Icecub
by
7.5k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!