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An account earning 6.5% interest compounded annually for 10 years would have a balance of how much if the principal was $500 NEED ASAP

An account earning 6.5% interest compounded annually for 10 years would have a balance of how much if the principal was $500 NEED ASAP
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25 votes
An account earning 6.5% interest compounded annually for 10 years would have a balance of how much if the principal was $500

NEED ASAP

User Vikram Shetty
by
9.1k points

2 Answers

10 votes
Answer: $825

6.5% of 500 is 32.5 and $32.5 annually for 10 years would be $325 so then just combine the numbers, $500+$325
User Geertjanvdk
by
9.5k points
11 votes

Answer:

Myabe around 3,00 and something

Explanation:

User Orlando Herrera
by
8.0k points
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