Question

Five years ago Gary invested $10,000 into an account that makes 6% compounded annually. The value in the account after x years is represented by the formula V = 10,000(1.06)x. Assuming that Gary has made no deposits or withdrawals, how much money is in the account now?

Answer 1

$y=10000(1.06)^x \\y(5)=10000(1.06)^5 \\y(5)=10000 \times 1,3382255776 \\y(5)=13382.255776 \approx 13382.26$

Answer 2

Here's a hint from me:1.065=1.3382