Question: If you deposit $ 1 0 , 0 0 0 in a bank account that pays 1 0 % interest annually, how much will be

If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in your account after 5 years?
a. $19,699
b. $10,210
c. $15,747
d. $16,105.10
e. $17,849

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!