Tulio will invest $1,000,000 at 5% annual interest. Determine how much money will Tulio have after 10 years if the interest is

Question

3 years ago

11

calculated using the following methods.

1 answer:

balu736 [363] · Answer 1 · 2022-03-02T09:22:10+03:00

5 0

Answer:

$1,500,000

Step-by-step explanation:

Given

Principal = $1,000,000

Rate = 5%

Time = 10years

Interest = PRT/100

Interest = 1000000*5*10/100

Interest = 100000*5

Interest = $500,000

Amount after 10years = $1,000,000+ $500,000

Amount after 10years = $1,500,000

Tulio will invest​ $1,000,000 at​ 5% annual interest. Determine how much money will Tulio have after 10 years if the interest is