audreysinfinity audreysinfinity
  • 20-08-2017
  • Mathematics
contestada

You deposit 1,000 for 4 years at an interest rate of 2.0%. If the interest is compounded annually, how much money do you have after the four years

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wolf1728
wolf1728 wolf1728
  • 21-08-2017
Total = Principal * (1+ rate)^ years
Total = 1,000.00 * (1.02)^4
Total = 1,000.00 * 1.08243216
Total = 1,082.43
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