A community for students.
Here's the question you clicked on:
 0 viewing
anonymous
 4 years ago
You invest $2,000 in an account that has an annual interest rate of 3.2%, compounded annually. How much money will be in the account after 12 years? Round your answer to the nearest whole number.
anonymous
 4 years ago
You invest $2,000 in an account that has an annual interest rate of 3.2%, compounded annually. How much money will be in the account after 12 years? Round your answer to the nearest whole number.

This Question is Open

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0The formula you use in this case is \[P=P_0(1+r)^n\]Where P0 represents the initial amount that you invest, P represents the amount you end up with, r represents the interest rate as a decimal, and n represents the number of years.

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0Does that give you enough to solve it?

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0no sorry those are the options $3201 $2989 $2919 $2845

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0Which variable is does the 2000 represent?
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.