ECONOMICS (CBSE/UGC NET)

ECONOMICS

COMPOUND INTEREST

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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?
A
2000(1+0.02)13
B
2000(1-0.02)13
C
2000(1+0.02)16
D
2000(1-0.02)16
Explanation: 
There is 1 question to complete.