Suppose Charlie places $7000 in an account that pays 12% interest compounded each year. Assume that no withdrawals are made from the account.

amount at the end of one year

amount at the end of two years

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Esteban Berry

10 February, 06:52

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Cash Santos · Answer 1

7000/.12=840

840x2=1680

At the end of year one you will have $840 and $7840 total

At the end of year two you will have $1680 and $8680 total

Suppose Charlie places $7000 in an account that pays 12% interest compounded each year. Assume that no withdrawals are made from the account.amount at the end of one yearamount at the end of two years