ayannapeterson456 ayannapeterson456
  • 11-10-2020
  • Mathematics
contestada

If you deposit $5000 into an account that pays 3% annual Interest compounded -annually, how much money will you have after 2 years?

Respuesta :

Thelondonbrain
Thelondonbrain Thelondonbrain
  • 11-10-2020

Answer:

$5130.84

Step-by-step explanation:

100 + 3 = 103%

103% = 1.013

$5000 x 1.013^2 = $5130.84

Hope this helps!

Answer Link

Otras preguntas

Find the value of x in the right triangle shown below
Which adaptive management stage helps us understand what objectives are actually met? A. design OB. monitor implement D. adjust E. evaluate
If (m, n) is the midpoint of the line seqment joining the center of the circle , (x - 3) ^ 2 + (y + 4) ^ 2 = 10 then |m| + |n|=
RIDDLES!!! :) 1: Mr. Purple lives in a purple house, Mr. Green lives in a green house, and Mr. Brown lives in a brown house. Who lives in the white house? 2: A
how do financial institutions make our financial systems safer and less risky?
Difference between hire purchase and credit sales
Solve the system of equations using the substitution method. 2x + 5y = 17 y = 3x
1990 to 2000 songs and why you chose them
THE -------- temperature scale must be used in all gas law problems.
What is the standard form of -36/34? (NOT SIMPLIFICATION OR REDUCING TO LOWEST TERMS)