can someone please help me with my question? medal and fan will be given for the best answer!

Question

anonymous · Answer

if i have 7,500 in my saving account and i have an interest rate of .87% what is the amount of my compound interest investiment after 10 years?

anonymous · Answer

is it an annual rate?

usarmy3947 · Answer

@AkashdeepDeb @aaronq @AccidentalAiChan @thomaster

anonymous · Answer

if so compute
$$7500\times (1.0087)^{10}$$ to get the balance after 10 years

anonymous · Answer

anonymous · Answer

then the interest is $8178.65-7500$

anonymous · Answer

idk if its an anual rate though?

anonymous · Answer

i guess we have to assume it is
otherwise we can't really do the problem

anonymous · Answer

ok then lets say it is lol

anonymous · Answer

678.65?

anonymous · Answer

that is what i get too

anonymous · Answer

ok thank you! can you help me with 2 more?

anonymous · Answer

i will tag you in those problems ? so if we can work out the answer i can give you medals for those too

anonymous · Answer

@satellite73