SOLUTION: Sarah deposited $500.00 into a savings account that pays 5% annual interest that is compounded yearly. At the end of 10 years how much money will be in the savings account?
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Sarah deposited $500.00 into a savings account that pays 5% annual interest that is compounded yearly. At the end of 10 years how much money will be in the savings account?
Log On
Question 465406: Sarah deposited $500.00 into a savings account that pays 5% annual interest that is compounded yearly. At the end of 10 years how much money will be in the savings account? Answer by solver91311(24713) (Show Source):
Where is the future value, is the present value, is the annual interest rate (as a decimal), is the number of compounding periods per year, and is the number of years.
Substitute your values:
You can punch your own calculator buttons.
John
My calculator said it, I believe it, that settles it
