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October 23, 2014

October 23, 2014

Posted by **cynthia** on Monday, February 18, 2013 at 8:56am.

- math -
**Henry**, Tuesday, February 19, 2013 at 11:58amP = Po(1+r)^n.

Po = $500. = Initial investment.

r = (5%/100%) = 0.05 = APR expressed as a decimal.

N = 1Comp./yr * 10yrs = 10 Compounding periods.

Plug the above values into the given Eq and get:

P = $814.45.

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