SOLUTION: what is the balance at the end of 10 years If I have 500 dollars in a saving account that pays 5% annual and how did you arrive at that answer.

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Question 404661: what is the balance at the end of 10 years If I have 500 dollars in a saving account that pays 5% annual and how did you arrive at that answer.
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
A=500(1+0.05)^10
A=500*1.6289
A=814.45