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How much interest is earned for the investment? $16,000 for 2 years at 5% compounded annually

How much interest is earned for the investment? $16,000 for 2 years at 5% compounded annually
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1 vote
How much interest is earned for the investment? $16,000 for 2 years at 5% compounded annually

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User Yulieth
by
7.9k points

1 Answer

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16000(1+(.05/1)^(2x1)
PEMDAS
16000(1.05)^2
16000x1.1025
17640
answered
User Miljan Rakita
by
8.6k points
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