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) About Me  (Show Source):
You can put this solution on YOUR website!
100% + 3% = 103% = 1.03
$2,000 * 1.03^2
= $2122
Hope this helps.
:-)