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3 years ago

How much will $2000 deposited in an account earning 5% interest compounded

Mathematics

1 answer:

GrogVix [38]3 years ago

5 0

Answer:

Interest = 2000

Total = 4000

Step-by-step explanation:

The formula to find interest:

Interest = Original Amount x Rate x Time.

Substitute the numbers into the formula.

I = 2000 x 0.05 x 20

You must change the percentage to a decimal.

Solve for I

I = 2000 x 0.05 x 20 = 100 x 20 = 2000

The interest is $2,000. To find the amount in total after 20 years, add the interest with the original amount.

2000 + 2000 = 4000

I hope this helps and please mark me as brainliest!

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