SOLUTION: a person deposits 500.00 in a savings account that pays 5% annual interest that is compounded yearly. at the end of ten years, how much money will be in the savings account
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Question 450036: a person deposits 500.00 in a savings account that pays 5% annual interest that is compounded yearly. at the end of ten years, how much money will be in the savings account
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=500(1.05)^10
A=500*1.629
A=$814.50
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