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- anonymous

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.

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- anonymous

- jamiebookeater

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- anonymous

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.

- anonymous

Does that give you enough to solve it?

- anonymous

no sorry those are the options
$3201
$2989
$2919
$2845

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- anonymous

Which variable is does the 2000 represent?

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