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Suppose you deposit $2,000 in a savings account that pays interest at an annual rate of 5% if no money is added or withdrawn from the account, how much will be in the account af…

Suppose you deposit $2,000 in a savings account that pays interest at an annual rate of 5% if no money is added or withdrawn from the account, how much will be in the account af…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Suppose you deposit $2,000 in a savings account that pays interest at an annual rate of 5% if no money is added or withdrawn from the account, how much will be in the account after 4 years?

User Jacob Lee
by
7.3k points

1 Answer

9 votes

Answer:

$2431.01

Explanation:

2000×(1 + 0.05)^4 = 2431.0125

User Zote
by
8.4k points
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