George deposited $2,000 in his bank account, which offers 5 percent compound interest
calculated annually. What would be the principal amount available in George's account at
the end of two years?
There would be a principal amount of $
of 2 years.
in George's account at the end
O 2.100
0 2.000
02.005
O 2.205
Answer:
2205
Explanation:
annual compound interest formula
PV(1+i)ⁿ
we have
2000(1+.05)²
=2205
Answer:
2205
Explanation:
plato