Ask Question
10 October, 19:16

If i have $500 and I get 5% interest compounded annually how much would i have after 10 years

+3
Answers (2)
  1. 10 October, 19:24
    0
    Answer: $814.45

    Step-by-step explanation:

    This is the formular: A=P (1+rn) n⋅t

    A = total amount

    P = principal or amount of money deposited,

    r = annual interest rate

    n = number of times compounded per year

    t = time in years

    A = $500 (1+5%/1) 1.10

    $500 (1+0.05) 10

    $500 * 1.629

    =$814.45
  2. 10 October, 19:27
    0
    Answer: $814.45

    (Sorry I am not sure)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If i have $500 and I get 5% interest compounded annually how much would i have after 10 years ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers