If an amount of $5,000 is deposited into a savings account at an annual interest rate of 5%, compounded monthly, what is the value of the investment after 10 years?

$8,240

Step-by-step explanation:

We are given that,

Principle amount in the savings account, P = $5,000.

Rate of interest, r = 5% = 0.05

Time period, t = 10

Also, the interest is compounded monthly, n = 12

As, we now that the value of the investment is given by

Thus, we have,

Investment Value =

i.e. Investment Value =

i.e. Investment Value =

i.e. Investment Value =

i.e. Investment Value = $8,240

Hence, the investment amount after 10 years is $8,240.

the forst and 3rd

step-by-step explanation:

i only know the sequence of arithmetic it adds the first is 5+4 then it goes up as it adds to then it is 9+5 then 14+6 then to 20+7 and so on. 5,9,14,20,27,35.

step-by-step explanation: