SOLUTION: A bank pays 3% compound interest per year. Jeremy invests $2 000. How much money will he have in his account at the end of the second year, giving your answer correct to the neares

SOLUTION: A bank pays 3% compound interest per year. Jeremy invests $2 000. How much money will he have in his account at the end of the second year, giving your answer correct to the neares

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Question 790392: A bank pays 3% compound interest per year. Jeremy invests $2 000. How much money will he have in his account at the end of the second year, giving your answer correct to the nearest dollar?
Answer by Cromlix(4381) (Show Source): You can put this solution on YOUR website!
100% + 3% = 103% = 1.03
$2,000 * 1.03^2
= $2122
Hope this helps.
:-)
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