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2 years ago

If my savings of $x grows 10% each year. How much will I have in: 5 years

Mathematics

2 answers:

lawyer [7]2 years ago

8 0

After 1 year=x1.1
After 2 years=x1.1*1.1
………
After 5 years=x1.1*1.1*1.1*1.1*1.1=x1.61051

g100num [7]2 years ago

3 0

Answer:

See below

Step-by-step explanation:

Assuming the interest is compounded annually

x * (1 + .10)^5 = 1.61051 x

your final amount will be 1.61051 times bigger than the initial deposit

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