.You think you will be able to deposit $2,000 at the end of each of the next three years in a bank account paying 8 percent interest. You currently have $5,000 in the account. How much will you have in four years? [round off the answer to an integer.] Full explain this question and text typing work only      We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line

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Effective Interest Rate

The term interest rate can be defined as the amount that is charged by the lender as a percentage on the principal amount. Interest rate which is charged annually is known as annual percentage rate.