Question

You invest $1,300 in an account that has an annual interest rate of 5%, compounded annually. How much money will be in the account after 10 years? Round your answer to the nearest whole number.

Answer 1

M=1300(1+0.05/1)^(10*1)

Answer 2

I got 2118 but I'm not sure if that's correct :p

Answer 3

M=21177.56 I'm taking the same class too -.-

Answer 4

haha so is it kept 21177 then? Because it has to be a whole number not a decimal

Answer 5

yepp 2,118 would be your answer

Answer 6

ok thank you :)

Answer 7

http://www.wolframalpha.com/ <-- you this website copy and paste this m=p(1+(r)/(n))^(n*t) and replace the letters with numbers