Try Yourself $-$ Question $1$

You deposit $$7,500$ in a bank account with an annual compound interest rate of

$4\mathrm{.}9\%.$ Assuming you don't withdraw or deposit any more money, how much will

be in the account in $10$ years?

A$.$ $$12,494$

B$.$ $$12,343$

C$.$ $$12,212$

D$.$ $$12,101$

E$.$ $$12,070$

Recall that $FV=PV(1+i{)}^n$