Answer:
Claudine Corporation will accumulate 32616,67
Explanation:
The formula of interest is A=P (1+r)ⁿ
A=Final amount
P= Principal ( deposit)
r= interest rate
n= time
Claudine Corporation will make 5 deposits, 1 per year. We are going to calculate how much will be accumulate per year:
A 1 year= 5000(1+0,09)⁵=7693,12
A 2 year= 5000(1+0,09)⁴=7057,90
A 3 year= 5000(1+0,09)³=6475,15
A 4 year= 5000(1+0,09)²=5940,5
A 5 year= 5000(1+0,09)¹=5450
Total amount=7693,12 + 7057,90 +6475,15 +5940,5 +5450 =32616,67
