How much will be in an account at the end of 2 years if 12,000 is invested at 5% compounded annually

Question

Cory Cooper

Mathematics

31 August, 12:28

How much will be in an account at the end of 2 years if 12,000 is invested at 5% compounded annually

+5

Answers (2)

Know the Answer?

Corey · Answer 1

That would be

12,000 (1.05) ^2 = 13,230

Crackers · Answer 2

X = 12,000 (1+0.05) ^2

X=12,000 (1.05) ^2

X = 12,000 (1.1025)

X = 13,230

$13,230 should be the amount that is earned after two years with 5% compounded annually.