Question

Use the formula $A=P(1+r)^t$ for Exercises 110-113. Find the amount in an account after 5 years if the initial investment is $\$ 2000$, invested at $4 \%$ interest compounded annually. 

   Use the formula $A=P(1+r)^t$ for Exercises 110-113.
Find the amount in an account after 5 years if the initial investment is $\$ 2000$, invested at $4 \%$ interest compounded annually.
Beginning And Intermediate Algebra
Beginning And Intermediate Algebra
Julie Miller, Nancy… 2nd Edition
Chapter 5, Problem 111 ↓
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Use the formula $A=P(1+r)^t$ for Exercises 110-113. Find the amount in an account after 5 years if the initial investment is $\$ 2000$, invested at $4 \%$ interest compounded annually.
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Transcript

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00:01 We need to find the final amount in the account when there was 2000 in the beginning, a 4 % interest five years later.
00:07 So we have 2 ,001 plus...
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