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

Question

Guest

5 May, 08:07

+1

Answers (2)

Know the Answer?

Elena Henderson · Answer 1

Elena Henderson 5 May, 08:43

0

The answer is D. $2121.80

Randy Roberts · Answer 2

Amount after 2 years = 2000 (1 + 0.03) ^2

= $2121.80

D

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) $2,000.06B) $2,060.00C) $2,120.00D) $2,121.80