You deposit $10000 into a CD with 5% interest compounded monthly. The CD will last 10 years. When you use the compound interest formula we discussed to find the amount you will have after 10 years, you will have: PN = 10000(a number). What is the number? Round to 3 decimal places.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 3PA: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...
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You deposit $10000 into a CD with 5% interest compounded monthly. The CD will last 10 years.

When you use the compound interest formula we discussed to find the amount you will have after 10 years, you will have:

PN = 10000(a number).

What is the number? Round to 3 decimal places.

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