asked 108k views
1 vote
Theo deposits $2,000 deposit in a savings account earning compound interest at an annual rate of 5% compounded annually. He makes no additional deposits or withdrawals. Use the formula for compound interest to find the amount in the account after 10 years.

asked
User AHiggins
by
8.4k points

1 Answer

6 votes
The amount in the account after 10 years would be $3257.79
answered
User Izmoto
by
7.3k points
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