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Rex deposited $1,000 into an account that earns 5% compound interest annually. How much interest will Rex earn after 10 years?

Rex deposited $1,000 into an account that earns 5% compound interest annually. How much interest will Rex earn after 10 years?
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Rex deposited $1,000 into an account that earns 5% compound interest annually. How much interest will Rex earn after 10 years?

User Sovattha Sok
by
8.2k points

1 Answer

3 votes

Answer:

1,628.89

Explanation:

User DerChris
by
7.4k points
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