Question

Question 2

5 pts
You deposit $5000 in an account earning 7% interest compounded
monthly. How much will you have in the account in 10 years?
5 nts

Answer 1

`s = 5000(1.07) {}^(t)`

`s = 5000(1.07) {}^(10)`

`s = 5000(1.96715)`

`s = 9835.756 \: dollars`