Answer
$32577.89
Work Step by Step
The formula is:A=P(1+$\frac{r}{n}$$)^{nt}$
P=20000 which is the start amount
R=0.05 which is the rate(5%) in decimal
N=1 because it is the number of times compounded per year.
T=10 which is the time.
Substitute:
A=20000(1+$\frac{0.05}{1}$$)^{1(10)}$
A=20000(1.63)
A=32577.89
There would be about $32577.89 after 10 years
