If $2,000 is invested in an account with 5% interest compounding yearly, what will the balance of the account be after 6 years? Please refer to the following Future Value table:
$$\begin{array} {| r | r | r | r | r | }
\hline\begin{array} { l }
\text { Future } \
\text { Value of } \
\text { s1 }
\end{array} & & & & \
\hline & 4 \% & 5 \% & 6 \% & 7 \% \
\hline 1 & 1.040 & 1.050 & 1.060 & 1.070 \
\hline 2 & 1.082 & 1.103 & 1.124 & 1.145 \
\hline 3 & 1.125 & 1.158 & 1.191 & 1.225 \
\hline 4 & 1.170 & 1.216 & 1.262 & 1.311 \
\hline 5 & 1.217 & 1.276 & 1.338 & 1.403 \
\hline 6 & 1.265 & 1.340 & 1.419 & 1.501 \
\hline
\end{array}$$

Question

If $2,000 is invested in an account with 5% interest compounding yearly, what will the balance of the account be after 6 years? Please refer to the following Future Value table:
$$\begin{array} {| r | r | r | r | r | } 
\hline\begin{array} { l } 
\text { Future } \
\text { Value of } \
\text { s1 }
\end{array} & & & & \
\hline & 4 \% & 5 \% & 6 \% & 7 \% \
\hline 1 & 1.040 & 1.050 & 1.060 & 1.070 \
\hline 2 & 1.082 & 1.103 & 1.124 & 1.145 \
\hline 3 & 1.125 & 1.158 & 1.191 & 1.225 \
\hline 4 & 1.170 & 1.216 & 1.262 & 1.311 \
\hline 5 & 1.217 & 1.276 & 1.338 & 1.403 \
\hline 6 & 1.265 & 1.340 & 1.419 & 1.501 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of If $2,000 is invested in an account with 5% interest compounding yearly, what will the balance of the account be after 6 years? Please refer to the following Future Value table:
$$\begin{array} {| r | r | r | r | r | } 
\hline\begin{array} { l } 
\text { Future } \
\text { Value of } \
\text { s1 }
\end{array} & & & & \
\hline & 4 \% & 5 \% & 6 \% & 7 \% \
\hline 1 & 1.040 & 1.050 & 1.060 & 1.070 \
\hline 2 & 1.082 & 1.103 & 1.124 & 1.145 \
\hline 3 & 1.125 & 1.158 & 1.191 & 1.225 \
\hline 4 & 1.170 & 1.216 & 1.262 & 1.311 \
\hline 5 & 1.217 & 1.276 & 1.338 & 1.403 \
\hline 6 & 1.265 & 1.340 & 1.419 & 1.501 \
\hline
\end{array}$$

If $2,000 Is Invested in an Account with 5% Interest