Question

QUICK, PLEASE

Leroy deposited $8,000 in an account earning 5% interest compounded annually.

To the nearest cent, how much will he have in 2 years?

Answer 1

He will have 800 dollars

Answer 2

8820

Explanation:

p= 8000

r= 5%

n=1

t=2

put this into formula F= P x (1 + r/n)nt: F = 8000 x (1+5 . 1/100)2

Evaluate the equation/expression:: 8820

Round 8820 to the required place:: 8820