joejoefofana
13.07.2020 •
Business
You deposit $500 in an account earning 5% interest compounded annually. How much will you have in the account in 10 years?
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Ответ:
Future Value= $814.45
Explanation:
Giving the following information:
Initial investment= $500
Interest rate= 5% interest compounded annually.
Number of years= 10
To calculate the future value, we need to use the following formula:
FV= PV*(1+i)^n
FV= 500*(1.05^10)
Future Value= $814.45
Ответ: