Answer:
$7738.70
Step-by-step explanation:
Ok. So, 10k right now. And each year, He go 5% interest rate for 5 years.
5th year: $10,000*5/100= How much money the intrest rate provided him.
It gave him $500.
10,000-500=9500
4th year: $9,500*5/100= It gave him $475
9500-475=9025
3rd year:9025*5/100= It gave him $451.25
9025-451.25=8573.75
2nd year:8574.75*5/100=428.73 ROUNDED or 428.7375
8574.75-428.73
1st year: 8146.02*5/100=407.30 ROUNDED or 407.30100
8146-407.30=$7738.70
