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How much I treat will be earned on a savings account that pays 8% compounded annually, if $16,000 is invested for 2 years?

How much I treat will be earned on a savings account that pays 8% compounded annually, if $16,000 is invested for 2 years?
asked 183k views
1 vote
How much I treat will be earned on a savings account that pays 8% compounded annually, if $16,000 is invested for 2 years?

asked
User P D
by
7.9k points

2 Answers

4 votes
400 dollers per year ....
answered
User Appz Venture
by
9.3k points
7 votes
i=prt
i=16000*8%*2
i=16000*0.8*2
i=25600
answered
User Yuriy Seredyuk
by
7.8k points
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