Asked by help w/ business

If an investment of $5,000 today earns 5% in each of the next five years, and then earns 7% per year for five years after that, how much will the investment be worth at the end of the ten years?
Answered by helper
Is the interest compounded?

Compounded daily, quarterly, yearly, etc ?

Answered by help w/ business
It doesn't indicate
Answered by helper
$5,000 @ 5% for 5 yrs
then 7% for 5 yrs

I = PRT
I = 5000(0.05)(5)
I = 250(5)
I = 1250.00

5000 + 1250.00 = 6250.00

I = PRT
I = 6250(0.07)(5)
I = 437.50(5)
I = 2187.50

6250.00 + 2187.50 = 8437.50
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