You deposit $200 in an account earning 2% interest compounded annually. How much will you have in the account in 20 years?

asked Jan 16, 2023 91.4k views

4 votes

by Tags

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2 votes

$297.19
=200x(1+2%/1)^(20x1)
=$200x (1+2% interest/1 compounded annually)^(20 years x 1 compounded annually)

Xuyang answered Jan 17, 2023

4.2k points

3 votes

Answer:

221

Explanation:

Interest goes up 5 dollar each year

Ngoc answered Jan 22, 2023

by Ngoc

4.9k points

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