Question

how much would $500 invested at 5% interest compoundes annually be worth after 10 year?

Answer 1

\[P=500$,Rate=5% annual, time t=10 years \]
\[A=P \left( 1+\frac{ r }{100} \right)^{t}\]
\[A=500\left( 1+\frac{ 5 }{ 100} \right)^{10}\]
\[A=500\left( \frac{ 21 }{ 20 } \right)^{10}\]
you can solve it by calculator or by log tables
\[\log A=\log 500+10\left( \log21-\log20 \right)\]
then solve taking log and in the end to get A take antilog