If the money and interest are left in the bank, how much is the total savings after three years for $2,000 at 11% annually compounded interest
Stacey Warren - Expert brainly.com
Hey! We 've verified this expert answer for you, click below to unlock the details :)
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga.
Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus.
Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
the first thing you have to do is find 11% of 2,000 then add that number and 2000 together for the first year. for the second year you take the total saving for the first year and find 11% of the number and add them together for you total saving of the second year. for the third year you take the total saving of the second year and find 11% of that number and then add them together
11% 2,000=220 220+2,000=$2,220 So after 1 year you would have $2,220 in total savings.
11% 2,220=244.2+2,220=$2,464.2 so after 2 years you would have $2,464.2 in total savings
11% 2464.2=271.062+2,464.2=2735.262 rounded you would get $2735.26
you would have $2735.262 rounded you would get $2735.26 in total savings after 3 years.