Question

George deposited $2,000 in his bank account, which offers 5 percent compound interest

calculated annually. What would be the principal amount available in George's account at
the end of two years?
There would be a principal amount of $
of 2 years.
in George's account at the end
O 2.100
0 2.000
02.005
O 2.205

Answer 1

2205

Step-by-step explanation:

plato

Answer 2

2205

Step-by-step explanation:

annual compound interest formula

PV(1+i)ⁿ

we have

2000(1+.05)²

=2205