Answer
${{\$}} 9513.28$
Work Step by Step
THEOREM: Compound interest Formula (Section 6-7)
The amount $A$ after $t$ years due to a principal $P$ invested at an annual interest
rate $r,$ expressed as a decimal, compounded $n$ times per year is
$A=P\displaystyle \cdot\left(1+\frac{r}{n}\right)^{nt}$
$A=10,000$
$P=?,$
$r=0.05$
$n=12$
$t=1$
$10000=P\displaystyle \cdot\left(1+\frac{0.05}{12}\right)^{12}$
$P=\displaystyle \frac{10000}{\left(1+\frac{0.05}{12}\right)^{12}}\approx 9513.28241$