# SOLUTION: You place \$2000 in an aggressive bank account. How much will be in your account after 21 years if your money grows by 45% every 3 years?

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 Question 462523: You place \$2000 in an aggressive bank account. How much will be in your account after 21 years if your money grows by 45% every 3 years?Answer by lwsshak3(6505)   (Show Source): You can put this solution on YOUR website!You place \$2000 in an aggressive bank account. How much will be in your account after 21 years if your money grows by 45% every 3 years .. compound interest formula: A=P(1+r)^n, P=initial investment, r=interest rate per period. n=number of periods, A= initial investment after n years .. for given problem: Initial investment=2000 nterest rate per period=45% number of periods=21/3=7 A=2000(1+.45)^7 =2000(1.45)^7=26953 ans: After 21 years, \$26,953, will be in your account