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valentina_108 [34]
3 years ago
6

How much compound interest will an account of $10,000 bear after 5 years at 3% APR, compounded annually?

Mathematics
1 answer:
Novosadov [1.4K]3 years ago
4 0
A=10,000×(1+0.03)^(5)
A=11,592.74

Interest earned
11592.74-10000=1592.74
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Answer:

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Step-by-step explanation:

5x+2y=25\\5x-y=10

Solving by elimination here again, there are 2 good options available. Either multiply the whole bottom equation by -1 to cancel the x, or by 2 to cancel the y. I'll do the latter:

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Add from top to bottom:

\rightarrow (5x+10x)+(2y-2y)=25+20\\\rightarrow 15x=45\\\rightarrow x=3

Now, with the value of x, solve for y in either of the equations. I'll choose the second one here:

\rightarrow 5x-y=10\\\rightarrow 5(3)-y=10\\\rightarrow 15-y=10\\\rightarrow -y=-5\\\rightarrow y=5

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