Question

Five years ago Gary invested $10,000 into an account that makes 6% compounded annually. The value in the account after x years is represented by the formula V = 10,000(1.06)x. Assuming that Gary has made no deposits or withdrawals, how much money is in the account now?

Answer 1

replace \(x\) by 5 and compute using a calculator

Answer 2

whats the answer

Answer 3

i don't know, i didn't do it
use a calculator and see
you will not do it with pencil and paper

Answer 4

I suspect your formula is not correct it should be: \[10,000(1.06)^x\].

Answer 5

and yes i believe you should be able to do the work using your calculator. If you do not have a calculator that can do powers of 5, here's a hint from me:\[1.06^5=1.3382\].