# What is $25,000 at 8% for 5 years?

##### 1 Answer

#### Explanation:

Although there is no context, there is no mention of "compounding" and annuities (words like "monthly payment" indicates an annuity). Therefore, the only formula we can use is

=> Where

=> Where

=> Where

=> Where

#I=P*R*T#

#I=25000 xx 0.08 xx 5#

#I=10000#

Now we add the interest to the deposited principal to get the total.

#T=P+I#

#T=25000+10000#

#T=35000#

Therefore, after

Hope this helps :)