Question

trina has a college fund started with a deposit of $10,000 which earns 5% annually. If no other monies are deposited, how much money will Trina have in her fund at the end of 3 years?

Answer 1

10000 x 105/100 x 3

Answer 2

You can use the Compound Interest Formula.
\[M(t)=I(1+r)^{t}\]
where M is the final amount of money at time t
I is the initial amount of money. and r is the rate of interest.
So plug in your numbers:
\[M(3)=10000(1+0.05)^3\]

Answer 3

sry :p 1 sec

Answer 4

well there you have it

Answer 5

@soccerj2302 Do you understand?

Answer 6

Yes thanks!