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jeffreyaxtell4039
24.06.2019 •
Mathematics
If 2000 dollars is invested in a bank account at an interest rate of 8 per cent per year, find the amount in the bank after 12 years if interest is compounded annually:
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Ответ:
$5036.34
Step-by-step explanation:
Each year, 8% of the existing balance is added to the existing balance, effectively multiplying the amount by 1.08. If that is done for 12 years, the effective multiplier is 1.08^12 ≈ 2.51817. The the amount in the bank at the end of that time is ...
$2000×2.51817 = $5036.34
Ответ:
uygfyu
Step-by-step explanation: