SOLUTION: Use the formula for computing future value using compound interest to determine the value of the account after 5 years when: Principal = $10,000 Annual Interest Rate is 6% Compo

SOLUTION: Use the formula for computing future value using compound interest to determine the value of the account after 5 years when: Principal = $10,000 Annual Interest Rate is 6% Compo

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Question 734501: Use the formula for computing future value using compound interest to determine the value of the account after 5 years when:
Principal = $10,000
Annual Interest Rate is 6%
Compounded monthly.
In the least, give can you give me the proper formula, and get me started? Thanks Dearly.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=10000(1+0.06/12)^12*5
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