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Question

An investment of 10,000 is made in a government bond that will pay 6%$ interest compounded annually. At the end of five years, what is the total number of dollars in this investment? Express your answer to the nearest whole number.

Accepted Answer

After five years, at a six percent annual interest rate, the investment will have grown to 10000 1.06^5 = 13382, to the nearest dollar.