PLEASE ANSWER THIS URGENTLY: Mary deposits £10000 in an account which pays 5.6% compound
interest per year.
How much will Mary have in her account after 5 years?

The amount Mary would have in her account in 5 years is approximately £13,131.7

Step-by-step explanation:

The amount Mary deposits in the account, P = £10,000

The amount in interest paid by the account, r = 5.6%

The mode by which the interest is calculated = Compound interest

The number of years for which the amount (£10,000) will be kept in the account, t = 5 years

The number of times that the given interest applies per year, n = 1

The amount, "A",  Mary would have in her account in 5 years, is given by the compound interest formula as follows;

Where;

A = The amount accrued in the account after the given elapsed periods

P = The principal or initial balance in the account = £10,000

r = The compound interest rate = 5.6/100

n = The number of times the interest is applied in one period of time = 1

t = The sum of the duration for the interest applies = 5

Substituting the given values, we have;

Therefore, the amount Mary would have in her account in 5 years = A ≈ £13,131.7

step-by-step explanation:

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step-by-step explanation:

d would equal 12