Answer:
The Amount after 4 years is $2430 .
Step-by-step explanation:
Given as :
The principal amount investment = p = $2000
The rate of interest applied = r = 5%
The time for investment = t years
Let The Amount after t years = $A
<u>From Compound Interest method</u>
Amount = Principal ×
Or, A = p ×
Or, A = $2000 ×
Or, A = $2000 ×
So, The Amount after t years = A = $2000 ×
B) The principal amount investment = p = $2000
The rate of interest applied = r = 5%
The time for investment = t = 4 years
Let The Amount after t years = $A
<u>From Compound Interest method</u>
Amount = Principal ×
Or, A = p ×
Or, A = $2000 ×
Or, A = $2000 ×
i.e A = $2000 × 1.215
Or, A = $2430
So, The Amount after 4 years = A = $2430
Hence, The Amount after 4 years is $2430 . Answer