If you deposit $2,042 today in a savings account that pays 8% interest annually, how much would you have at the end of 5 years?

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter6: Saving And Investing
Section6.1: Why Save?
Problem 6R
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If you deposit $2,042 today in a savings
account that pays 8% interest annually,
how much would you have at the end of
5 years?
Transcribed Image Text:If you deposit $2,042 today in a savings account that pays 8% interest annually, how much would you have at the end of 5 years?
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