$10,000 for 20 years at 5% compounded annually
1 answer:
Answer:
$26532.98
Step-by-step explanation:
<u>Given:</u>
- Principal = $10000
- Profit rate = 5% PA compounded
- Time = 20 years
- Compounds = 20*1 = 20
<u>Sum is:</u>
- 10000*(1 + 5/100)²⁰ ≈ 26532.98
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