ANSWER
[tex]10(1+\frac{0.01}{12})^{60}[/tex]EXPLANATION
We want to find the expression that represents the number of books after 5 years.
To do this, we have to apply the general formula for the amount of an exponential increase based on a 12 month time period:
[tex]a(1+\frac{r}{12})^{12\cdot x}[/tex]where P = initial amount
r = rate
x = amount of time (number of years)
From the question:
P = 10,000
r = 1% = 0.01
t = 5 years
Therefore, the expression that represents the number of books (in thousaands) after 5 years is:
[tex]\begin{gathered} 10(1+\frac{0.01}{12})^{12\cdot5} \\ \Rightarrow10(1+\frac{0.01}{12})^{60} \end{gathered}[/tex]That is the answer.
