Liam puts $2000 in the bank with a 3% annual interest rate compounded annually. if Liam does not touch his money how much money
will he have after two years?
A.) 2,000.06
B.) 2,060.00
C.) 2,120.00
D.) 2,121.80
2 answers:
D. He will have $2,121.80.
After one year at 3% interst, $2000 becomes $2000 x 1.03 = $2,060.
During the second year, that $2060 x 1.03 becomes $2121.80
Answer:D)2,121.80
Step-by-step explanation:
For the first year,
3% interest = PRT/100
=2000×3×1 / 100
=6000/100
=60
2000+ 60= 2060
for the second year
3% interest = PRT/100
= 2060 ×3×1 / 100
= 61.8
2060+61.8 = 2121.8
Therefore, after 2 years, he will have 2,121.8
You might be interested in
The answer is B because -26/5= -5.2
I think it’s 7/12 I think it would 7/12
the radius is half of the diameter, so d = 2r , or double the radius :)
Answer:
1. x ≤ 400
2. x ≥ 200
3. x < 20
Step-by-step explanation:
I am pretty sure that this is right. :)
Step-by-step explanation:
I'm not sure if this correct or not
