shawsandra22
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A man invests $10000 in a savings account. rose to bns and je owd bieg The bank pays compound interest on accounts. It pays the interest into the account at the end of of each year
Savings account 2.5% interest per year
The man does not take any money out. What is the balance after the bank has paid two interest into the account ?​

Respuesta :

The balance after the bank has paid two interests into the account is $10,506.25

What is the balance after two interest have been paid?

The formula for calculating future value of the account is:

FV = P (1 + r)^N

  • FV = Future value
  • P = Present value
  • R = interest rate
  • N = number of years

10,000 (1.025)^2 = $10,506.25

To learn more about future value, please check: https://brainly.com/question/18760477

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