Algebra 1

Published by Prentice Hall
ISBN 10: 0133500403
ISBN 13: 978-0-13350-040-0

Chapter 12 - Data Analysis and Probability - 12-6 Permutations and Combinations - Standardized Test Prep - Page 756: 69


834 dollars

Work Step by Step

The compound interest formula is A=P (1+ $\frac{r}{n}$$)^{nt}$. P=400 R=0.0525 (5.25%) N=1 T=10 Substitute: A=500 (1+ $\frac{0.0525}{1}$$)^{(1)(10)t}$. -simplify- A=500 (1.0525$)^{10}$. A=$834 After 10 years there would be 834 dollars
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