Question

4.

$10,000 is invested in an account paying 7.5% annual interest.
What is the balance in this account at the end of five years?
F.
$13,472.40
H.
$10,380.67
G.
$164,130.86
J.
$14,356.29

Answer 1

100 + 7.5 = 107.5

107.5/100 = 1.075

100000 X 1.075^5 = 14356.29326171875

round to 2 dp =

$14356.29

answer J