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Setler [38]
3 years ago
7

How much compound interest will an account of $10,000 bear after 5 years at 3% APR, compounded annually? (Hint: Use the formula

for annual compound interest.)
Mathematics
2 answers:
Ivan3 years ago
5 0
You would first put it into the compounded formula. So it would be 10,000(1+.03/1)^1×5=$11,592.74
noname [10]3 years ago
4 0

$1,592.74 is the answer.

I honestly don't know how the compound interest formula works or how to compute it, just trying to help out after some trial and error from myself.

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