Answer:
$2,589.52
Step-by-step explanation:
[tex] A = P(1 + \dfrac{r}{n})^{nt} [/tex]
We start with the compound interest formula above, where
A = future value
P = principal amount invested
r = annual rate of interest written as a decimal
n = number of times interest is compound per year
t = number of years
For this problem, we have
P = 2000
r = 0.026
n = 2
t = 10,
and we find A.
[tex] A = $2000(1 + \dfrac{0.026}{2})^{2 \times 10} [/tex]
[tex] A = $2589.52 [/tex]
