Answer:
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Step-by-step explanation:
To calculate the future value of an investment with compound interest, we can use the following formula:FV = PV x (1 + r)^nWhere:
FV = future value
PV = present value
r = interest rate (as a decimal)
n = number of compounding periodsIn this case, we have:
PV = $10,000
r = 6% = 0.06
n = 5 (since we want to know the value in 5 years)So, substituting these values into the formula, we get:FV = $10,000 x (1 + 0.06)^5
FV = $10,000 x 1.3382
FV = $13,382
Therefore, you will have $13,382 in 5 years if you deposit $10,000 today in an account that pays 6 percent interest with annual compounding.