Question 596917
{{{A = P(1 + r/n)^(nt)}}}


{{{A = 10000(1 + 0.05/1)^(1*10)}}}


{{{A = 10000(1 + 0.05)^(1*10)}}}


{{{A = 10000(1 + 0.05)^10}}}


{{{A = 10000(1.05)^10}}}


{{{A = 10000(1.62889462677744)}}}


{{{A = 16288.9462677744}}}


So he would have saved <font color="red">$16,288.95</font>