Suppose your friends parents invest $10,000 in an account paying 7% compounded annually. what will the balance be after 8 years?

asked Jul 18, 2021 153k views

3 votes

5.2k points

Please log in or register to add a comment.

5 votes

Answer:

7,000

Explanation:

10,000 x .7 = 7,000

Eric Qian answered Jul 19, 2021

6.1k points

6 votes

Answer:

17,181.86

Explanation:

Just keep multiplying each answer by 1.07 till you reach 8 years.

5.7k points

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.9m questions

7.7m answers