Investment

If an investor invests $2000 on January 1st every year guarantees him 4% per annum. if the interest is calculated on the 31st December how much will be the account on end of the 10th year?

Correct answer:

x =  2960.4886 USD

Step-by-step explanation:

a=2000 USD q=100%+4%=1+1004=1.04 t=10  x=a qt=2000 1.0410=2960.4886 USD



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