Compound interest formula:
[tex]\begin{gathered} A=P(1+\frac{r}{n})^{nt} \\ \\ A\colon\text{Amount} \\ P\colon\text{ Principal} \\ r\colon\text{ interest rate (in decimals)} \\ n\colon\text{ number of times interest is compounded in a year} \\ t\colon\text{ time (in years} \end{gathered}[/tex]Given data:
P= $2,000
r= 3,9% =0.039
n=monthly= 12
t= 6 years
[tex]\begin{gathered} A=2000(1+\frac{0.039}{12})^{12(6)} \\ \\ A=2000(1.00325)^{72} \\ \\ A\approx2526.33 \end{gathered}[/tex]Then, the total amount after six years is $
