Answer:
The solution to this expression is 61,224.74
Step-by-step explanation:
To solve we initially have to convert the percentage to a decimal:
[tex]1.8\% = \frac{1.8}{100} = 0.018[/tex]
So
56000*(1+1.8%)^5 = 56000(1+0.018)^5 = 56000(1.018)^5 = 61,224.74
The solution to this expression is 61,224.74
