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Krystal invested $12,000 in an account that pays 5% annual compound interest. Krystal will not make any additional deposits or withdrawals. How much will be in Krystal's account at the end of the two years?

Respuesta :

samuelonum1

Answer:

$13230

Step-by-step explanation:

Step one:

given data

principal= $12,000

rate= 5%= 0.05

time = 2years.

Step two;

the compound interest formula is

A= P(1+r)^t

substituting we have

A=12000(1+0.05)^2

A=12000(1.05)^2

A=12000*1.1025

A=13230

Krystal's account at the end of the two years will be $13230

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