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Find the compound amount for the deposit and the amount of interest earned. $2000 at 2% compounded annually for 4 years The compound amount after 4 years is $ (Do not round until the final answer. Then round to the nearest cent as needed.) The amount of interest earned is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

Find the compound amount for the deposit and the amount of interest earned. $2000 at 2% compounded annually for 4 years The compound amount after 4 years is $ (Do not round until the final answer. Then round to the nearest cent as needed.) The amount of interest earned is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Find the compound amount for the deposit and the amount of interest earned. $2000 at 2% compounded annually for 4 years The compound amount after 4 years is $ . (Do not round until the final answer. Then round to the nearest cent as needed.) The amount of interest earned is $. (Do not round until the final answer. Then round to the nearest cent as needed.)
Transcribed Image Text:Find the compound amount for the deposit and the amount of interest earned. $2000 at 2% compounded annually for 4 years The compound amount after 4 years is $ . (Do not round until the final answer. Then round to the nearest cent as needed.) The amount of interest earned is $. (Do not round until the final answer. Then round to the nearest cent as needed.)
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