Question

You invest $2,000 in an account that is compounded annually at an interest rate of 5%. You never withdraw money from the account. How much money will be in the account after 4 years?

Answer 1

A=2000e(1.05)^t
because Pe(r)^t
P=initial amount
e=e
r=rate in decimal form +1
t= amount of time I think you have to use the formula of compound interest A = 20000(1 + 5/12)^4

Answer 2

2431.01 hope i helped