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how do I get the total of 2000$ at 12% intrest anually compounded for 10years

 Aug 19, 2015

Best Answer 

 #2
avatar+17746 
+5

A  =  P(1 + r)n

A = final amount

P = beginning amount = $2000.00

r = yearly interest rate as a decimal = 0.12

n = number of years = 10

A  =  2000(1 + 0.12)10  =  $6211.70

 Aug 19, 2015
 #1
avatar
+5

Please make your question clearer!. Do you mean how much money you have to have today to get $2000 in 10 years? Or, how much money you have to deposit every year to get $2000 in 10 years?.

 Aug 19, 2015
 #2
avatar+17746 
+5
Best Answer

A  =  P(1 + r)n

A = final amount

P = beginning amount = $2000.00

r = yearly interest rate as a decimal = 0.12

n = number of years = 10

A  =  2000(1 + 0.12)10  =  $6211.70

geno3141 Aug 19, 2015

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