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Chuck deposits $2000 into a bank account that compounds annually at an interest rate of . Assuming there are no other transactions, what will the balance be after years, in dollars?
Chuck deposits $2000 into a bank account that compounds semi-annually at an interest rate of . Assuming there are no other transactions, what will the balance be after years, in dollars?
Chuck deposits $2000 into a bank account that compounds quarterly at an interest rate of . Assuming there are no other transactions, what will the balance be after years, in dollars?
Chuck deposits $2000 into a bank account that compounds monthly at an interest rate of . Assuming there are no other transactions, what will the balance be after years, in dollars?
Chuck deposits $2000 into a bank account that compounds semi-annually at an interest rate of . Assuming there are no other transactions, what will the balance be after years, in dollars?
Chuck deposits $2000 into a bank account that compounds quarterly at an interest rate of . Assuming there are no other transactions, what will the balance be after years, in dollars?
Chuck deposits $2000 into a bank account that compounds monthly at an interest rate of . Assuming there are no other transactions, what will the balance be after years, in dollars?
Answers
Answer
Chuck deposits $\$2000$ into a bank account that compounds monthly at an annual interest rate of $6\%.$ Assuming there are no other transactions, what will the balance be after $4$ years, in dollars?
Answered by
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The answer will depend on the interest rate.
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