Ask Question
8 November, 13:43

You deposit $2000 each year into an account earning 3% interest compounded annually. How much will you have in the account in 25 years?

+4
Answers (1)
  1. 8 November, 17:12
    0
    This is what I get. Total will be 4187.56 with Interest 2187.56. By using the formula: To find amount : A=p (1+r/n) ^n*t Where P=2000, r=3%, n=1, t=25 So plug in and solve A=2000 (1+0.03/1) ^1*25 To find interest you use formula A=p+I A=4187.56, p=2000, i = we need to find. 4187.56=2000+I 4187.56-2000=I 2187.56=i
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You deposit $2000 each year into an account earning 3% interest compounded annually. How much will you have in the account in 25 years? ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers