Question

Question 2
5 pts
You deposit $5000 in an account earning 7% interest compounded
monthly. How much will you have in the account in 10 years?
5 nts

Answer 1

$s = 5000(1.07) {}^{t}$

$s = 5000(1.07) {}^{10}$

$s = 5000(1.96715)$

$s = 9835.756 \: dollars$