Question

What is the amount after 2 years will be?​

Answer 1

$2916 is the amount after two years.

Explanation:

The formula for calculating the compound amount:

A = P( 1 + R ) ^ T

Put in the numbers:

A = 2,500( 1 + 8% ) ^ 2

Then calculate:

2500( 1 + 0.8 ) ^ 2

2500( 1.08 ) ^ 2

2500 x 1.1664

= $2,916 is the amount after two years.