Question

I REALLLLYYYYY NEED HELP, PLEASE?

A principal of $3500 is invested at 5% interest, compounded annually. How much will the investment be worth after 10 years?

Use the calculator provided and round your answer to the nearest dollar.

Answer 1

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Use this equation:

final = original x multiplier^n

Lets calculate the multiplier

5/100 = 1.05

n is the number of years.

Substitute values in:

final = 3500 x 1.05^10

final = 5701.131194

The answer is $5701.13

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