slabrada05 slabrada05
  • 22-02-2022
  • Mathematics
contestada

16. An initial investment of $10,000 grows at 11% per year. Calculate its value after 5 years.
Show work please

Respuesta :

18bafnaj 18bafnaj
  • 22-02-2022

Answer:

16850.58 (2DP)

Step-by-step explanation:

Compound Interest Formula = P(1 + [tex]\frac{r}{100}[/tex])^t

P = 10,000

Rate = 11%

Time = 5 years

10000(1.11)^5 = $16850.58

Answer Link

Otras preguntas

consider the polynomial function (x+3)(x+9)(x-6)=0 which of the following are zeros of the function? Select all that apply. A) -9 B) -6 C) -3 D) 0 E) 3 F) 6 G)
The belief that the experiences of women and men differ as a result of differences in anatomy is called:
If a storm window has an area of 640 square inches, what is the equation to find the dimensions when the window is 20 inches higher than it is wide (x represent
i dont get this pls help
Is C5H10O5 nonpolar or polar?
What are some basic words in Chinese?
What is a mortgage?
Need help on number 8
What happens when scout think the world is ending?
Which of the following is a method best used for total quality management? A. measuring the productivity of a workforce B. tracking the productivity of a countr