Question

You deposited $2000 in an account earning 3% in interest compounded monthly. A) How much will you have in the account in 25 years? B) How much interest will you earn?

Answer 1

c=p(r/100+1)n

c=2000(3/100+1)25

a)$4187.56

b)$4187.56-2000=2187.56

Explanation: