Question
Ben deposits $5000 now into an account that earns 7.5 percent interest compounded annually. He then deposits $1000 per year at the end of the first and second years.
How much will the account contain 10 years after the initial deposit?
How much will the account contain 10 years after the initial deposit?
Answers
T-perry
Multiply $5000 by 10 years
bob
10,000