Suppose you deposit $2,000 in a savings account that pays interest at an annual rate of 5% if no money is added or withdrawn from the account, how much will be in the account after 4 years?

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asked Jul 15, 2022 195k views

3 votes

Suppose you deposit $2,000 in a savings account that pays interest at an annual rate of 5% if no money is added or withdrawn from the account, how much will be in the account after 4 years?

Mathematics
high-school

Jacob Lee asked

by Jacob Lee

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1 Answer

9 votes

Answer:

$2431.01

Explanation:

2000×(1 + 0.05)^4 = 2431.0125

Zote answered Jul 19, 2022

by Zote

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