Answer:
$6,139.1
Step-by-step explanation:
Using the compound interest formula;
A = P(1+r)^t
P is the amount invested
A is the amount = $10000
r is the rate = 5%
t is the time = 10years
10000 = P(1+0.05)^10
10000 = P(1.05)^10
10,000 = P(1.6289)
Swap
P(1.6289) = 10,000
P = 10,000/1.6289
P = 6,139.1
Hence I need to invest $6,139.1
