Question
A bank offers 5% compound interest on investments.A men invest $2000.
a)what is his investment worth after three year?
b)find the compound interest.
a)what is his investment worth after three year?
b)find the compound interest.
Answers
What is the compounding period ? Yearly? Monthly? Daily?
Remember that Amount in account = Principal(1 + i)^(n)
Remember that Amount in account = Principal(1 + i)^(n)
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