SOLUTION: Suppose you invest $5,000 at 9% interest, compounded annually, for 10 years. Determine the future value of your investment, using the compound interest formula.

Question 1144047: Suppose you invest $5,000 at 9% interest, compounded annually, for 10 years. Determine the future value of your investment, using the compound interest formula.

Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
Suppose you invest $5,000 at 9% interest, compounded annually, for 10 years. Determine the future value of your investment, using the compound interest formula.
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Is there some reason you don't do that?
Do you know the "compound interest formula?"
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Here's a hint:
After the 1st year, it's $5000*(1.09)

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