michelle51056 michelle51056
  • 03-04-2021
  • Mathematics
contestada

If Jeffrey invested $2,000 (principal) for 5 years at 5% interest rate compounded annually how much Interest would he earn over 5 years?

Respuesta :

wolf1728
wolf1728 wolf1728
  • 03-04-2021

Answer:

Total = principal * (1+ rate/100)^ years

Total = 2,000 * 1.05^5

Total = 2,000 * 1.2762815625

Total = 2,552.36

Source: http://www.1728.org/compint2.htm

Step-by-step explanation:

Answer Link

Otras preguntas

What does Lincoln mean when he says soldiers gave "the last full measure of devotion"?
(3x squared)to the power of -2
write an equation with the solution x=20??
Evans uncle gave his money for his birthday. He puts half of the money in his savings account,spend 1/5 of the money on bubble gum to share with his friends,and
How do you round to the greatest place value
Show how to find the value of six dimes an eight pennies
why is 743 a prime number
simplify 25 pq + 13 pq-6-35pq+4=
How to start a sentence off when describing someone?
how to change 3.25 in to 32.5