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?

You invest 2000 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 accou class=

Respuesta :

Answer:

$2,400

Step-by-step explanation:

First we need to find whatever that 5% is.

[tex]\frac{5}{100} \times \frac{2000}{1}[/tex]

Which gives us $100.

Now, we multiply the $100 by 4.

Which is $400.

Now, we add that to the $2,000.

Which gives us $2,400.

Sorry for the late reply but hope this helps

Q&A Education