Question

You invest $2,000 in an account that is compounded annually at an interest rate of 5%. You never

withdraw money from the account. How much money will be in the account after 4 years?

Answer 1

$2,400

Explanation:

First we need to find whatever that 5% is.

`(5)/(100) * (2000)/(1)`

Which gives us $100.

Now, we multiply the $100 by 4.

Which is $400.

Now, we add that to the $2,000.

Which gives us $2,400.

Sorry for the late reply but hope this helps