SOLUTION: A person invests $5000 in an account at 3% interest com- pounded annually. The value V (in) of the account after t years is described by V = 500011.032 . Find the value of the acco

Algebra ->  Probability-and-statistics -> SOLUTION: A person invests $5000 in an account at 3% interest com- pounded annually. The value V (in) of the account after t years is described by V = 500011.032 . Find the value of the acco      Log On


   



Question 1162402: A person invests $5000 in an account at 3% interest com- pounded annually. The value V (in) of the account after t years is described by V = 500011.032 . Find the value of the account after 10 years.

Answer by greenestamps(13203) About Me  (Show Source):
You can put this solution on YOUR website!


A person invests $5000 in an account at 3% interest cross%28com-+pounded%29 compounded annually. The value V cross%28%28in%29%29 of the account after t years is described by cross%28V+=+500011.032%29 V=5000(1.032)^t . Find the value of the account after 10 years.

Get a calculator and plug in the numbers to find the answer on your own.