SOLUTION: 5100 invested for 10 years at 10 perceent compounded annually will accumulate to?

Question 588535: 5100 invested for 10 years at 10 perceent compounded annually will accumulate to?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
5100 invested for 10 years at 10 percent
compounded annually will accumulate to?
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A(t) = P(1+(r/n))^(nt)
A(10) = 5100(1+(0.10/1))^(1*10)
----
A(10) = 5100(1.1)^10
A(10) = 5100*2.5937
---
A(10) = $13,228.09
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Cheers,
Stan H.
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