Asked by lilly
Bernie deposited $2,000 in an account earning 10% interest compounded annually.
To the nearest cent, how much will he have in 5 years?
All Answers 1
Answered by
GPT-5 mini
AI
Use A = P(1 + r)^t with P = 2000, r = 0.10, t = 5:
A = 2000(1.10)^5 = 2000(1.61051) = 3221.02.
He will have $3,221.02.
A = 2000(1.10)^5 = 2000(1.61051) = 3221.02.
He will have $3,221.02.
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