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Answered

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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=

Sagot :

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

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