+0  
 
+5
982
2
avatar+545 

David deposited $10,000 in an account that pays 5 percent interest compounded annually. Using a calculator and the formula:determine how much money had been earned after the first 10 years

 Jun 1, 2016
 #1
avatar+37153 
0

FV = PV (1+i)^n     FV = Future Value   PV = Present Value  i = interest in decimal form   n = years

 

Once you get Future Value , subtract Present Value to find how much was earned.

 Jun 1, 2016
edited by ElectricPavlov  Jun 1, 2016
 #2
avatar+545 
0

okay thank you.

Katie-Leigh  Jun 1, 2016

1 Online Users

avatar