Ian Powell

Mathematics

24 April, 10:21

Will Mark Brainiest

Sara deposits $10 in an account that earns an interest rate of 5% compounded annually. What is the balance in the account at the end of 50 years?

A) $114.67

B) $234.57

C) $635.21

D) $75.26

8)

Davis puts $5,000 each year in an account that earns 5% annual interest, compounded annually. His brother Mike puts $5,000 each year in a safe in his bedroom. After the first 10 years of doing this, how much more money does Davis have than Mike? Round your answer to the nearest dollar.

A) $20,524

B) $2,500

C) $31,445

D) $8,144