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xiaxia
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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.
 2 years ago
 2 years ago
xiaxia Group Title
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.
 2 years ago
 2 years ago

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jabberwock Group TitleBest ResponseYou've already chosen the best response.0
The 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.
 2 years ago

jabberwock Group TitleBest ResponseYou've already chosen the best response.0
Does that give you enough to solve it?
 2 years ago

xiaxia Group TitleBest ResponseYou've already chosen the best response.0
no sorry those are the options $3201 $2989 $2919 $2845
 2 years ago

jabberwock Group TitleBest ResponseYou've already chosen the best response.0
Which variable is does the 2000 represent?
 2 years ago
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