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Author Question: Justin invests $4,000 in a savings account for two years. The account pays 2% interest compounded ... (Read 143 times)

Emmejo01

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Question 1

Justin invests $4,000 in a savings account for two years. The account pays 2% interest compounded annually.  How much interest income will Justin earn on this investment?
◦ $80.00
◦ $81.60
◦ $160.00
◦ $161.60

Question 2

Justin invests $4,000 in a savings account for two years. The account pays 2% interest compounded annually.  How much money will be in the account at the end of the second year?
◦ $4,161.60
◦ $4,160.00
◦ $4,080.00
◦ $1,161.60


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Marked as best answer by Emmejo01 on Mar 29, 2022

studyforce.com

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Emmejo01

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Reply 2 on: Mar 29, 2022
Wow, this really help


EAN94

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Reply 3 on: Yesterday
Gracias!

 

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