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Sunny_sXe [5.5K]
3 years ago
9

Select the correct answer.

Mathematics
1 answer:
Scrat [10]3 years ago
7 0

Answer:

$7738.70

Step-by-step explanation:

Ok. So, 10k right now. And each year, He go 5% interest rate for 5 years.

5th year: $10,000*5/100= How much money the intrest rate provided him.

It gave him $500.

10,000-500=9500

4th year: $9,500*5/100= It gave him $475

9500-475=9025

3rd year:9025*5/100= It gave him $451.25

9025-451.25=8573.75

2nd year:8574.75*5/100=428.73 ROUNDED or 428.7375

8574.75-428.73

1st year: 8146.02*5/100=407.30 ROUNDED or 407.30100

8146-407.30=$7738.70

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