Question

Suppose your friends parents invest $10,000 in an account paying 7% compounded annually. what will the balance be after 8 years?

Answer 1

Answer:

17,181.86

Step-by-step explanation:

Just keep multiplying each answer by 1.07 till you reach 8 years.

Answer 2

Answer:

7,000

Step-by-step explanation:

10,000 x .7 = 7,000