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Joanne deposited $10,000into an interest account that earns 5.5 percent compound interest,compounded annualy.How much is in the account after 10 years.

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neuskens
I know the formula for this is FV = P (1+ r)^y, where FV is the future value, P is the starting money you have, r is the rate of the compound interest (expressed in decimal) and y is the number of years.
We have then FV = 10000 (1+.055)^10 but I'm not sure how to work it out from there, sorry. That's the formula though, hope I helped.

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