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(tco b.if today you put $10,000 into an account paying 10% annually, how much will there be in the account after 5 years? show your work.

(tco b.if today you put $10,000 into an account paying 10% annually, how much will there be in the account after 5 years? show your work.
asked 24.2k views
4 votes
(tco

b.if today you put $10,000 into an account paying 10% annually, how much will there be in the account after 5 years? show your work.

asked
User Ken Fox
by
8.1k points

1 Answer

6 votes
The formula is
A=p (1+r)^t
A future value?
P present value 10000
R interest rate 0.1
T time 5years

A=10,000×(1+0.1)^(5)=16,105.1
answered
User Prasanna Sundar
by
7.8k points
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