salmaraz04 salmaraz04

19-08-2020
Mathematics

contestada

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

Respuesta :

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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