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Today at 5:39 PM
Mathematics

Answered

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 :

subtomex0 subtomex0

Today at 5:45 PM

[tex]s = 5000(1.07) {}^{t} [/tex]

[tex]s = 5000(1.07) {}^{10} [/tex]

[tex]s = 5000(1.96715)[/tex]

[tex]s = 9835.756 \: dollars[/tex]

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