Question

If my savings of $x grows 10% each year. How much will I have in 5 years?

Answer 1

Answer:

161051x / 100000

Step-by-step explanation:

Compound interest = x (  1+10/100  )^5

                                 = x ( 11/10 )^5

                                 = x ( 161051/100000)

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Answer 2

Answer:

After 5 years we will have $1.61051x.

Step-by-step explanation:

Given,$x grows 10% each year.

We want to find how much will I have in 5 years ?

We know by compound interest,

If money p grows r% each year then after t years the money will become

$= p + p {(1 + \frac{r}{100}) }^{t}$

Here p = $x and r = 10% and t = 5 years

So, required money will be

$x {(1 + \frac{10}{100}) }^{5} \\ = x \times { (\frac{11}{10}) }^{5} \\ = \frac{161051}{100000} x \\ = \frac{161051x}{100000} \\ = 1.61051x$

This is a conceptual problem of compound interest.

Know more about Compound interest,

1) https://brainly.in/question/1950647

2)https://brainly.in/question/11735147