A person deposited $500 into a savings account with 5% annual interest that compounds yearly. At the end of 10 years, how much money will be in the savings account?

Question

tkhunny · Answer

Do you have an accumulation formula for a single payent?

anonymous · Answer

$$500(1.05)^{10}$$ and a calculator

anonymous · Answer

Can anyone help me please?

tkhunny · Answer

1) Answer my question.
2) Use Satellite's complete solution.

What help do you think you need?

anonymous · Answer

I really am trying to figure out how to get the answer to this problem.

anonymous · Answer

I am not trying to be funny, I actually need help.

tkhunny · Answer

It does not appear to me that you are trying to be funny.  It's just a little tricky to know how to help you if you don't answer direct questions and also don't recognize when a complete solution has been given to you.

Okay, let's try another question and see if you will answer that.  Do you have a calculator with an exponent button?

anonymous · Answer

yes

tkhunny · Answer

Can you see how to enter the keystrokes indicated by Satellite?

Algebraic: 5 0 0 * 1 . 0 5 ^ 10 = ??
or
RPN: 500[enter]1.05[enter]10 x^y *

anonymous · Answer

Thanks.