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You invest $2,000 in an account that is compounded annually at an interest rate of 5%. You never withdraw money from the account. How much money will be in the account after 4 y…

You invest $2,000 in an account that is compounded annually at an interest rate of 5%. You never withdraw money from the account. How much money will be in the account after 4 y…
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You invest $2,000 in an account that is compounded annually at an interest rate of 5%. You never withdraw money from the account. How much money will be in the account after 4 years

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User Wviana
by
7.8k points

2 Answers

0 votes

Answer:

$2,431.01

Explanation:

answered
User Jpfollenius
by
7.5k points
0 votes
A = 2000(1 + 0.05)^4 = 2000(1.05)^4 = 2000(1.2155) = $2,431.01
answered
User KWriter
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8.0k points
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