Explanation:
The formula goes by:
I= PRT/100
Where I is interest, p is principal, R is rate and T is time.
In the question it says that interest is given monthly, so we have to convert the time(10 years into months)
Principal=5000
Time=10 years × 12months= 120months
Rate=5%(5/100)
Now the formula
Interest= 5000×5×120 / 100
Interest= 30000
So the value in 10years is 5000 + 30000 = 35000
Dont forget your $ sign.