You deposit $500 in an account that earns 5% compounded annually. what is the balance in your account after 5 years? round your answer to the nearest cent. f $2,625.00 g $625.00 h $886.89 j $638.14

J. $638.14

Step-by-step explanation:

We will use compound interest formula to solve our given problem.

, where,

A=Final amount after T years.

P= Principal amount.

r= Interest rate in decimal form.

n= Period of compounding.

T= Time in years.

Let us convert our given interest rate in decimal form.

Let us substitute our given values in above formula.

Therefore, we will have an amount of $638.14 after 5 years and option J is the correct choice.

answer: the answer is one of

step-by-step explanation:   we are given to write a proper fraction where the whole is divided into an even number of equal parts less than ten, and an odd number of those parts exist.

an even number less than 10 may be one of 2, 4, 6 or 8. so, the whole may be one of these four evens.

now, an odd number of these parts must exist, so the numerator must be an odd number, one of 1, 3, 5 or 7. it cannot be 9 because then the fraction will become improper.

thus, our fraction may be one of the following