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5 May, 08:07

Liam puts $2,000 in the bank with a 3% annual interest rate compounded annually. If Liam does not touch his money, how much money will he have after two years?

A) $2,000.06

B) $2,060.00

C) $2,120.00

D) $2,121.80

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Answers (2)
  1. 5 May, 08:43
    0
    The answer is D. $2121.80
  2. 5 May, 10:23
    0
    Amount after 2 years = 2000 (1 + 0.03) ^2

    = $2121.80

    D
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