Suppose you deposit $2,000 in a savings account that pays interest at an annual rate of 4%. If no money is added or withdrawn, determine how much will be in the account after 18 years.

A) 3 years

B) 4 years

C) 5 years

D) 6 years

Question

Wade Knight

Mathematics

2 April, 23:47

Suppose you deposit $2,000 in a savings account that pays interest at an annual rate of 4%. If no money is added or withdrawn, determine how much will be in the account after 18 years.

A) 3 years

B) 4 years

C) 5 years

D) 6 years

+1

Answers (1)

Know the Answer?

Psycho · Answer 1

Using the formula I = PRT

I = $2000 * 0.04 * 18

I = $1440

$2000 + $1440 = $3440

the choices given are not related to the question in anyway bub, you may have copied it wrongly

Suppose you deposit $2,000 in a savings account that pays interest at an annual rate of 4%. If no money is added or withdrawn, determine how much will be in the account after 18 years.A) 3 yearsB) 4 yearsC) 5 yearsD) 6 years

Suppose you deposit $2,000 in a savings account that pays interest at an annual rate of 4%. If no money is added or withdrawn, determine how much will be in the account after 18 years.

A) 3 years

B) 4 years

C) 5 years

D) 6 years