Asked by Trish Goal

When Frederick was born, his grandparents gave hime a gift of $2000, which was invested at an interest rate of 5% per year, compounded yearly. How much money will Frederick have when he collects the money at the age of 18? gGive your answer to the nearest hundreth of a dollar.
Answered by Steve
2000(1+.05)^18
Answered by Trish Goal
Is this answer right? 4183.24
Answered by LOL
It is invested compoundly