Answer:
It's worth $11,472.21 after 5 years.
Step-by-step explanation:
2.75% = 0.0275 as a decimal fraction.
The formula for the value after 5 years is:
A = 10,000(1 + 0.0275/12)^(5*12) where A is the amount of the investment after 5 years.
= 10,000(1.002291667)^60
= 10000 * 1.14722122
= 11,472.21.
=
