Advanced Math practice question

Answer: 5512.5 or 5512.50

5000 × 1.05² = 5000 × 1.1025 = 5,512.50.

Common wrong answers

If you answered 5250

5,250 is after ONE year.

If you answered 5500

5,500 adds 5% of 5,000 twice (simple growth); the second 5% is of 5,250.

If you answered 5512

5,512 drops the 50 cents; 5000 × 1.1025 = 5512.5 exactly.

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