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How much will be in an account at the end of 2 years if 12,000 is invested at 5% compounded annually
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5 votes
How much will be in an account at the end of 2 years if 12,000 is invested at 5% compounded annually

User Lost In Alabama
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2 Answers

6 votes
X= 12,000(1+0.05)^2
X=12,000 (1.05)^2
X= 12,000 (1.1025)
X= 13,230

$13,230 should be the amount that is earned after two years with 5% compounded annually.
User Frp
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7 votes
That would be
12,000(1.05)^2 = 13,230
User R H
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7.4k points
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