Suppose you deposit 2, 000 in a savings account that pays interest at an annual rate of 6%. If no money is added or withdrawn from the account, how much will be in the account after 3 years?

Solution

Solution

Amount : 2360

Solution steps

Translate the problem into an equation:

A = 2000 (1 + 0.06 \cdot 3)

2000 (1 + 0.06 \cdot 3) = 2360

Amount : 2360

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Suppose you deposit ​2, 000 in a savings account that pays interest at an annual rate of 6​%. If no money is added or withdrawn from the account, how much will be in the account after 3 ​years?

Solution

Solution

Popular Examples

Suppose you deposit 2, 000 in a savings account that pays interest at an annual rate of 6%. If no money is added or withdrawn from the account, how much will be in the account after 3 years?