Fred deposited $1,000 into an account that earns 2 percent, compounded annually. how much money will he have in 5 years?
$1000
$1100
$1552
$1291
$1126

After 5 years, Fred will have $1,100

Step-by-step explanation:

Simple interest = PRT/100

Where p=principal    R =rate and T =time (in year)

In the first year,

p=1000  R = 2%    T=1

Interest = PRT/100

             =$1000 × 2×1  /   100

              = $2000/100

                =$20

In year 2,

p=$1020    R=2%   T =1

Interest = PRT/100

             =$1020 × 2×1  /   100

              = $2040/100

                =$20.4

In year 3,

p=$1040.4    R=2%   T =1

Interest = PRT/100

             =$1040.4 × 2×1  /   100

              = $2080.8/100

                =$20.808

In year 4,

p=$1061.208    R=2%   T =1

Interest = PRT/100

             =$1061.208 × 2×1  /   100

              = $2122.416/100

                =$21.224

In year 5,

p=$1082.432   R=2%   T =1

Interest = PRT/100

             =$1082.432 × 2×1  /   100

              = $2164.864/100

                =$21.649

Amount= $1082.432 + $21.649

              =$1,104.081

               ≈$1100

After 5 years, Fred will have $1,100

on a coordinate grid, point a is at (−4.0, −2.4) and point b is at (4.0, −2.4). point b is a reflection of point a across the –axis. input either a lowercase x or i think is the right awnser

step-by-step explanation: