Raymond B. answered • 01/05/23
Tutor
5
(2)
Math, microeconomics or criminal justice
A = P(1+r/n)^nt
= 500(1.05)^5= about $638.14
Noah M.
asked • 01/04/23you deposit $500 in an account that earns 5 percent interest compounded annually. what is the balance in your account after 5 years.
you deposit $500 in an account that earns 5 percent interest compounded annually. what is the balance in your account after 5 years.
Follow
•
1
Add comment
More
Report
1 Expert Answer
Still looking for help? Get the right answer, fast.
Ask a question for free
Get a free answer to a quick problem.
Most questions answered within 4 hours.
OR
Find an Online Tutor Now
Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.
