Question

A deposit of $5,000 is made into a savings account which earns 33 4 % interest compounded annually. If no additional deposits or withdrawals are made, which amount is the total balance at the end of 10 years? A) $6,719.58 B) $6,875.00 C) $7,225.22 D) $7,401.22

Answer 1

You might need cymath for that

Answer 2

The answer would be b because 3 3/4% of 5000 is 187.5. 187.5*10 is 1875. 1875 + 5000 is $6875.00 in 10 years.

Hope this helps!