SOLUTION: Determine, to the nearest dollar, the amount of money accumulated after 3 years if $2000 is invested at an interest rate of 8% per annum, compounded annually.

Question 770639: Determine, to the nearest dollar, the amount of money accumulated after 3 years if $2000 is invested at an interest rate of 8% per annum, compounded annually.
Answer by oscargut(2103) (Show Source): You can put this solution on YOUR website!
Determine, to the nearest dollar, the amount of money accumulated after 3 years if $2000 is invested at an interest rate of 8% per annum, compounded annually.
We have to find A where
A = 2000(1+0.08)^3 = 2519.42
Answer: $ 2,519.42
You can ask me more at: mthman@gmail.com
Thanks
RELATED QUESTIONS
To the nearest dollar, how much money would be in an account in 8 years if $2000 is... (answered by checkley79)

An amount of money is invested at 3% and $2000 more is invested at 4%. If the interest... (answered by fractalier)

Determine the amount of an investment if $100 is invested at an interest rate of 5%... (answered by lwsshak3)

Determine the amount of an investment if $5000 is invested at an interest rate of 4.5%... (answered by rfer)

If $5000 is invested at an annual interest rate of 9% compounded continuously, how much... (answered by nyc_function)

If $5000 is invested at an annual interest rate of 9% compounded continuously, how much... (answered by JBarnum)

If $8000 is invested at an annual rate of 9.5% compounded continuously, find the... (answered by solver91311)

Adrianne invested $2000 in an account at a 3.5% interest rate compounded annually she... (answered by checkley77)

Jenny invested $2,000 at an interest rate of 5%. The amount of money, ma, in Jenny�s... (answered by solve_for_x)