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11 February, 15:24

If $10,000 is borrowed with an interest of 5.0% compounded annually, what is the total amount of money needed to pay it back in 5 years? Round your answer to the nearest cent and do not include the dollar sign.

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  1. 11 February, 15:36
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    You have to first change 5% into a decimal by moving it 2places to the left so. 05 and then multiply that. 05 x 10000 you'll get 500 that only for a year for 5years 500 x 5 = 2500 and then finally add 10000 to get the total amount for 5 years which will be 12500
  2. 11 February, 18:21
    0
    it is 12500

    Step-by-step explanation:

    The amount times the percent times the years gives you the intrest and you add that to the amount and that gives you the total
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