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9514 1404 393
Answer:
$16,453.09
Step-by-step explanation:
The future value formula is ...
FV = P(1 +r/12)^(12·t)
For P = 10000, r = 0.10, t = 5, the future value is ...
FV = $10,000(1 +0.10/12)^(12·5) = $10,000(1.64530893) ≈ $16,453.09