A person deposited $500 in a savings account that pays 5% annual interest that is compounded yearly.  At the end of 10 years how much money will be in the savings?

Expert Answers info

justaguide eNotes educator | Certified Educator

calendarEducator since 2010

write12,544 answers

starTop subjects are Math, Science, and Business

An amount P deposited in an account that gives an annual rate of interest r, compounded annually...

(The entire section contains 51 words.)

Unlock This Answer Now


check Approved by eNotes Editorial