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

how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O
how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O
how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O
Hey guys, I need 5 sentences!¿Prefieres viajar en coche, en tren, en barco o en avión? ¿Por qué?
how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O
how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O
What are the advantages and disadvantages of globalization
how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O
Hey guys, I need 5 sentences!¿Prefieres viajar en coche, en tren, en barco o en avión? ¿Por qué?
how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O