Sierra wants to invest $5,000 at her local bank. She will receive an interest rate of 1%, compounded annually. What is the value of her investment after two years?

Value of investment for Sierra after two years will be $5100.5

Step-by-step explanation:

Principal Amount P =$5000

Interest rate r = 1% = 0.01

Time t = 2 years

Compounded annually n = 1

We need to find future amount A

The formula used is:

Putting values and finding A

So, Value of investment for Sierra after two years will be $5100.5

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step-by-step explanation: