Answered

If you invest $1,500 today in a bank that gives you a 5 percent annual interest rate, which of these items can you buy in two years?


electronics worth $1,650
fitness equipment worth $1,700
a holiday package worth $2,000

Verified Answer :

W0lf93

First, we must calculate the amount that will be available after two years. This is given by:
Amount = initial amount (1 + interest rate)^time
Amount = 1500 (1 + 0.05)^2
Amount = $1,653.75
Therefore, the only items you can buy using this amount are the electronics worth $1,650

madisonvancamp5

Answer:

your answer would be a, electronics worth $1,650

Step-by-step explanation:


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