salmaraz04 salmaraz04
  • 19-08-2020
  • Mathematics
contestada

$10,000 for 20 years at 5% compounded annually

Respuesta :

mhanifa
mhanifa mhanifa
  • 19-08-2020

Answer:

$26532.98

Step-by-step explanation:

Given:

  • Principal = $10000
  • Profit rate = 5% PA compounded
  • Time = 20 years
  • Compounds = 20*1 = 20

Sum is:

  • 10000*(1 + 5/100)²⁰ ≈ 26532.98
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