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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
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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
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okay thank you.

Katie-Leigh  Jun 1, 2016

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