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Kirk wanted to open a savings account with the $2,000 he had earned over the summer. If the bank’s interest rate is 5%, how much will he have in 2 years? Show your work.

Kirk wanted to open a savings account with the $2,000 he had earned over the summer. If the bank’s interest rate is 5%, how much will he have in 2 years? Show your work.
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13 votes
Kirk wanted to open a savings account with the $2,000 he had earned over the summer. If the bank’s interest rate is 5%, how much will he have in 2 years? Show your work.

asked
User Bozo
by
8.0k points

1 Answer

12 votes

Answer:

$2205

Explanation:

The formula is (2000*1.05^2) which is 2205

answered
User Dog Lover
by
9.7k points
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