You invest $2,000 in an account that has an annual interest rate of 3.2%, compounded annually. How much money will be in the account after 12 years? Round your answer to the nearest whole number.

Question

anonymous · Answer

The formula you use in this case is
$$P=P_0(1+r)^n$$Where P0 represents the initial amount that you invest, P represents the amount you end up with, r represents the interest rate as a decimal, and n represents the number of years.

anonymous · Answer

Does that give you enough to solve it?

anonymous · Answer

no sorry those are the options 		
$3201
 		

$2989
 		
$2919
 		
$2845

anonymous · Answer

Which variable is does the 2000 represent?