ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Ethan was given $2000 when he turned 3 years old. His parents invested it at a 2% interest rate compounded annually . No deposits or withdrawls were made. Which expression can be used to determine how much money Bruno had in the account when he turned 16?
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2000(1+0.02)13
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2000(1-0.02)13
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2000(1+0.02)16
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2000(1-0.02)16
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Explanation:
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