Answer:
12,100
Step-by-step explanation:
Deposit: $10,000
Interest: 4.2%
Time: 5 years
First you change the percent into a decimal, which is 4.2% = 0.042. The equation is ((10,000 * 0.42) 5) + 10,000 = x. Heres how you simplify it:
((10,000 * 0.42) 5) + 10,000 = x
(420* 5) + 10,000 = x
2,100 + 10,000 = x
12,100 = x
Answer: 12,100 is the balance after 5 years.
