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In order to help her save money for college, Peyton's grandparents deposited $10,000 into a savings

account five years ago. Peyton has not made any withdrawals or deposits since then. The interest
rate on the savings account is 3.75% each year.

What is the total amount in Peyton's savings account?

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1 answer
  1. You did not say if this is simple interest or if it compounds yearly
    If simple then
    10,000 + 5 * 0.0375 * 10,000
    if compound then
    10,000 * 1.0375^5

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