# SOLUTION: a formula used to compute the current value of a savings account is a= p(l+r)^n, where a is the current value; p is the amount deposited; r is the rate of interest for 1 compoundin

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 Click here to see ALL problems on Word Problems With Coins Question 549901: a formula used to compute the current value of a savings account is a= p(l+r)^n, where a is the current value; p is the amount deposited; r is the rate of interest for 1 compounding period, expressed as a decimal; and n is the number of compounding periods. which of the following is closest to the value of a savings account after 5 years if \$10,000 is deposited at 4% annual intrest compounded yearly? f. \$10,400 g. \$12,167 h. \$42,000 j. \$52,000 k. \$53,782 Answer by rfer(12662)   (Show Source): You can put this solution on YOUR website!A=10000(1+0.04)^5 A=10000(1.04)^5 A=10000(1.2166529) A=\$12,167