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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 Akshay Bhange
by
8.6k points

2 Answers

7 votes

Answer:

A=2000(1+0.05)^4=2,431.01

Explanation:

User Koxon
by
8.4k points
3 votes
A=2000(1+0.05)^4=2,431.01
User Bernardn
by
8.1k points
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