Dannycuttie6559 Dannycuttie6559

10-07-2017
Mathematics

contestada

Suppose that $2000 is invested at a rate of 2%, compounded annually. Assuming that no withdrawals are made, find the total amount after 5 years. Do not round any intermediate computations, and round your answer to the nearest cent.

Respuesta :

Aliwohaish12 Aliwohaish12

10-07-2017

The formula is
A=p (1+r)^n
A future value?
P present value 2000
R interest rate 0.02
N time 5years

A=2,000×(1+0.02)^(5)
A=2,208.16

Answer Link

Otras preguntas

goitre is rare among people living in coastal areas. find a reason behind this phenomenon.

Using only five odd numbers, add them up so that the result is 32, the five odd numbers have to be whole numbers only.

What is NADPH2 ? where is it used?

How do u Solve 2x2 + 2x2 + 2 - 2x2 =

1. Write about the nicest trip you have ever been on (12-14 lines) .

Name two metals alloyed with iron to make stainless steel.

when resistors are connecting in a series ,does the position of ammeter make any difference ?

differentiate between roughage and concentrate

sentence has one word that is incorrect. 24 People have to be a certain hight before they are allowed to go on the ride.

x and y are two different numbers selected from the first fifty counting numbers from 1 to 50 inclusive. what is the largest value that (x+y) / (x-y) can have?