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Alex787 [66]
2 years ago
13

If Josh invests $500 in a 5-year fixed interest savings bond that pays 5% per annum, how much will his entire investment be wort

h at the end of the term?
Mathematics
1 answer:
gizmo_the_mogwai [7]2 years ago
6 0

Answer:

$638.14

Step-by-step explanation:

Our equation is p*(1+x)^{t}, with p being the starting amount, x being the interest rate, and t being the time. Plugging our variables in, we get

500*(1+0.05)^{5} = around 638.14

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