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Homework answers / question archive / Suppose you deposited $5,000 each year into an account earning 6 per cent interest

Suppose you deposited $5,000 each year into an account earning 6 per cent interest

Finance

Suppose you deposited $5,000 each year into an account earning 6 per cent interest. The first deposit was made one year from today. If you make 10 deposits in all, how much would you have in 10 years' time?

A.   $65,903.97

 

B.    $50,000

C.    $55,721.50

D.   $46,936.46

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