Question

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

Answer 1

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