4 years ago

You invest $2,000 into a savings account that gets 5% interest compounded yearly. How much money will you have after 7 years?

Mathematics

2 answers:

slavikrds [6]4 years ago

6 0

Answer:B

Step-by-step explanation:

$2000×1.05^7=$2814.20

natta225 [31]4 years ago

3 0

Answer:

Step-by-step explanation:

P = $ 2000

r =5% = 0.05

t = 7 years

$Amount=P*(1+\frac{r}{100}})^{t}\\\\=2000*(1+0.05)^{7}\\\\=2000*(1.05)^{7}\\\\=2000*1.4071\\\\$

= $ 2814.20

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