Suppose you deposit $2000 in a savings account that pays interest at an annual rate...
60.1K
Verified Solution
Link Copied!
Question
Basic Math
Suppose you deposit $2000 in a savings account that pays interest at an annual rate of 4%. If no money is added or withdrawn from the account, answer the following questions.a. How much will be in the account after 3 years?b. How much will be in the account after 18 years?c. How many years will it take for the account to contain $2500?d. How many years will it take for the account to contain $3000?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!