em8420006 em8420006

20-06-2020
Mathematics

contestada

You invest $2,000 in an account that is compounded annually at interest of a rate 5% you never withdrew money from the account how much money will be in the account after 4 years

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gilbertazavedo72 gilbertazavedo72

27-06-2020

Answer: $2431.01

Step-by-step explanation:

A =( 1+r/n)^nt

= 2000 (1+.05)^4

= 2000 (1.05)^4

= 2000 x 1.22

= 2431.01

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