Can you help me calculate the return of $2000.00 for 5 years at a rate of 8%?

Question

suppose you deposit $2000.00 for 5 years at a rate of 8%. calculate the return (A) if the bank compounds annually (n=1)

Answer 1

Homework? 2000 * 1.08^5 = $2,938 - $2000 = $938

Answer 2

I'll better calculate your return of $2000.00 for 5 years at a rate of 12% (as in my bank):

1.12 x 2000= 2240

1.12 x 2240= 2508.8

1.12 x 2508.8 = 2809.86

1.12 x 2809.86=3147.04

1.12 x 3147.04=3524.68

compounds annually

Feel free to email me for more details.

Answer 3

here's how to figure it out:

2,000 x .08 = 160

160 x 5 (years) =

$800 is the total return on your investment

Answer 4

I=PRT

I=2000 X .08 X 5 = Total

Total= 800+2000= 2800

Answer is $2800.00!

Answer 5

if its regular interest it is: 2000 multiplied by 5 multiplied by .08 = $800 +$2000 = 2800