Answer:
$10,400
Step-by-step explanation:
If 2,000 dollars are being invested at the beginning of each year and gets a 4% interest at the end that means 2,000*104%=$2,080
It also continues on for 5 years so 2,080*5=$10,400
Answer:
10833
Step-by-step explanation
Use the formula
Sₙ=a₁ [tex]\frac{1-r^n}{1-r}[/tex]
a₁= 2000
r= 1+4%=1.04
n=5
plug back into equation
S₅=2000[tex]\frac{1-1.04^5}{1-1.04}[/tex] =10832.6
Rounded to the nearest dollar $10,833
