Question

Solve 56000(1+1.8%)^5

Answer 1

The solution to this expression is 61,224.74

Explanation:

To solve we initially have to convert the percentage to a decimal:

`1.8\% = (1.8)/(100) = 0.018`

So

56000*(1+1.8%)^5 = 56000(1+0.018)^5 = 56000(1.018)^5 = 61,224.74

The solution to this expression is 61,224.74