Question 2 5 pts You deposit $5000 in an account earning 7% interest compounded monthly. How much will you have in the account in 10 years? 5 nts

Noon Time asked Jun 23, 2023

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18 votes

Question 2

5 pts
You deposit $5000 in an account earning 7% interest compounded
monthly. How much will you have in the account in 10 years?
5 nts

Noon Time asked Jun 23, 2023

3.2k points

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11 votes

$s = 5000(1.07) {}^(t)$

$s = 5000(1.07) {}^(10)$

s = 5000(1.96715)

$s = 9835.756 \: dollars$

Chris Haugen answered Jun 30, 2023

2.7k points

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