If you invest $2,000 today in a bank that gives you a 4 percent annual interest rate, which of these items can you buy in seven years?

Question

Mathematics

Skye Lawrence

1 October, 12:09

If you invest $2,000 today in a bank that gives you a 4 percent annual interest rate, which of these items can you buy in seven years?

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Answers (2)

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Lindsey Cox · Answer 1

Just the Mountain bike, cause 4% of $2000 is, $80. and $80 for each year for 7 years make $560. now after 7 years your bank account has $2560. Therefore, you can buy a mountain bike, and have $60 left over, if there is no tax included. But if there is tax, your going to be still short by $115. (calculated according to florida's tax, that is 7%.) Anyways if the tax is over 2% you cant get that bike.

Leanna Mendez · Answer 2

All of them

put this in a calculator: 2000*20%*7 then take away the prices or bills and thats how much money is left after the shopping spree