Question

a company sets up a smoking fund and invests #10,000 each year for 5 years at 9% compound interest, the worth of the fund after 5 years is ________​

Answer 1

`A\approx\$15\text{,}386.24` after 5 years

Explanation:

`\displaystyle A=P\biggr(1+(r)/(n)\biggr)^(nt)\\\\A=10000\biggr(1+(0.09)/(1)\biggr)^(1(5))\\\\A=10000(1.09)^5\\\\A\approx\$15\text{,}386.24`