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You deposit $2000 in a savings account at Hometown Bank, which has a rate of 6%. Find the amount, A, of money in the account after 3 years subject to interest compounded once a year. b) Find the interest.
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You deposit $2000 in a savings account at Hometown Bank, which has a rate of 6%.

Find the amount, A, of money in the account after 3 years subject to interest
compounded once a year.

b) Find the interest.

User Alvin Varghese
by
4.2k points

1 Answer

1 vote

Answer:

Amount 2382.03

Interest = 382.03

Explanation:

A = P (1+r/n)^nt

User Piyush Agarwal
by
4.4k points
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