Using the Geometeric formula:

A person deposited \$500 in a savings account that pays 5% annual interest that is compounded yearly. At the end of ten years how much savings will there be in the savings account?

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## 90 Answers

500*(1.05)^10 = 814.45

this is different from what you specified by the title
by Level 3 User (2.1k points)
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A                    B                      C

Initial cost                               \$200,000         \$230,000         \$180,000

Expected life                   5 years             5 years             4 years

Scrap value expected                \$10,000           \$15,000             \$8,000

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4                          60,000             50,000           100,000

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Year 4             0.5158

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\$500x0.05x10=\$750
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9/25*50/100=161/2
by Level 1 User (140 points)
P = \$500

R = 5%

T = 10 years

I = ?? A = ??

Formula: I = PRT/100 = (500*5*10)/100 I = \$250

now, A = P + I = \$500 + \$250 = \$750

the amount in saving account will be \$750
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500 * (1.05)^10 = 814.45
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500=P(Present Value) .05 or 5%=nominal rate(j) 10=period(n) annually=conversion period(m) I=P(1+j/m)^nm I=500*(1+.05)^10 I=814.45
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by Level 2 User (1.8k points)

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A= 500(1.05)^10
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=500*5%+=525*10=5250
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814.45 is your answer
by Level 1 User (460 points)
814.45 is your answer!!!!!!! hope this helps
by Level 1 User (300 points)

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