Answer:
$10510
Step-by-step explanation:
The question is not complete, here is the correct question
If $10000 is invested at an interest rate of 10% per year, compounded monthly, find the value of the investment after 5 years
Given data
Principal= $10000
interest= 10%
time= 5 years
Required
The final amount
The compound interest formula is
A= P(1+r)^t
substitute
A= 10000(1+0.1)^5
A= 10000(1.01)^5
A= 10000*1.051
A= $10510
Hence the investment will be $10510
