Suppose your friend's parents invest $ 10,000 in an account paying 7 % compounded annually. What will the balance be after 5 y

Question

Natasha_Volkova [10]

3 years ago

10

Suppose your friend's parents invest $ 10,000 in an account paying 7 % compounded annually. What will the balance be after 5 y

ears?

Mathematics

1 answer:

Alik [6] · Answer 1 · 2022-01-17T00:13:39+03:00

Alik [6]3 years ago

7 0

You use the formula Interest=principle (rate) time or i=prt. If you use that formula to solve, your answer will be 3,500. After five years, the balance will be $3,500.

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Suppose your​ friend's parents invest $ 10,000 in an account paying 7 % compounded annually. What will the balance be after 5 ​y

Suppose your friend's parents invest $ 10,000 in an account paying 7 % compounded annually. What will the balance be after 5 y