Question

Leslie mosallam, who recently sold her porches, placed $10,000 in savings account paying annual compound interest of 6 percent.Calculate the amount of money that will accumulate if leslie leaves the money in the bank for 1, 5, and 15 years?

Answer 1

In 1 year, Leslie will receive $600, which brings her balance to $10,600.
In 5 years, she'll receive $13,382.26.
In 15 years she'll receive $23,965.58.