Invests $2000 at 3% annual interest rate for 5 years, compounded monthly

about $2323.23

Step-by-step explanation:

Your formula is A=P (1+r/n) ^nt

A is what you're looking for, the amount

P is the principal, the amount you're putting in and thats $2000

r is the rate, 3% as a decimal:.03

n is the amount of times per year and there are 12 months in a year

t is how many years: 5 years

A=2000 (1+.03/12) ^12x5 (you can plug that whole thing into your calculator)

A=2000 (1.0025) ^60

A = $2323.23