Answered: If a person deposit 2000$ in his saving…

If a person deposit 2000$ in his saving account for 10 years at interest rate of 10%. How much money he will get after 10 years, calculate the value using compound interest formula.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If a person deposit 2000$ in his saving account for 10 years at interest rate of 10%.

How much money he will get after 10 years, calculate the value

using compound interest formula.

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