Question4. Let's say you invest an amount now and leave it in the bank for 50 years.
WOULD YOU RATHER... - OPTION A - Invest \$2000 now, interest rate of$4 \%$ compounded annually

Studdy Solution
Calculate $(1.04)^{50}$:
Using a calculator, $(1.04)^{50} \approx 7.106$
Substitute back to find $A$:
$$A = 2000 \times 7.106$$
$$A \approx 14212$$
The future value of the investment after 50 years is approximately:
$$\boxed{14212}$$