Respuesta :
Answer:
There would be $2,120
Step-by-step explanation:
First figure out what 3% of 2000 is which is 60. Multiply the 60 by 2 to get 120 then add 120 to 2000
Answer:
The amount after 2 years in the bank will be $3,380.
Step-by-step explanation:
[tex]A=P(1+\frac{R}{n})^{nt}[/tex]
A = Amount after t time period
P = Principal amount
R = Interest rate
n = Number of times interest applied per time period
We have:
P = $2000
R =3%=0.03
n = 1
t = 2 years
[tex]A=\$2000\times (1+\frac{0.03}{1})^{1\times 2}[/tex]
[tex]A=\$3,380[/tex]
The amount after 2 years in the bank will be $3,380.
