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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
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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

User Wviana
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2 Answers

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Answer:

$2,431.01

Explanation:

User Jpfollenius
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A = 2000(1 + 0.05)^4 = 2000(1.05)^4 = 2000(1.2155) = $2,431.01
User KWriter
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