Suppose your friends parents invest $25000 in an account paying 6% compounded annually. What will the balance be in 10 years

$44,771.19

Step-by-step explanation:

We will use the compound interest formula to solve this:

P = initial balance

r = interest rate (decimal)

n = number of times compounded annually

t = time

First, lets change 6% into a decimal:

6% -> -> 0.06

Now, plug the values into the equation:

The balance after 10 years will be $44,771.19

y - intercept

Step-by-step explanation:

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