10-03-2021
Mathematics

contestada

Suppose your friend's parents invest $10,000 in an account paying 5% compounded annually. What will the balance be after 10 years?
The account balance will be $
(Round to the nearest cent as needed.)

Please help me fast!!

Respuesta :

10-03-2021

Answer:

$16288.95

Step-by-step explanation:

Use the compound interest formula of y= Initial(1+rate)^years

so y= 10000(1+0.05)^10= $16,288.95

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