Problema Solution
if Leslie moves her money into an account that pays 10 percent compounded annually for 5 years, the amount of money that will accumulate is
Answer provided by our tutors
Let
P = the principle
i = 10% or 0.10
t = 5 years
A = the future value
A = P(1 + i)^t
A = P(1 + 0.05)^10
........
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........
A = 1.63P
After 5 years the investment will be 1.63 times the start investment.