Felix's parents opened a savings
account for him when he was born with
a $2,000 deposit. The account earns 6%
compound interest, compounded
annually. How much money will be in
Felix's account when he is 21?

The money in the Felix's account will be $6798 when he is 21.

Step-by-step explanation:

It is given that,

To find the money in Felix's account after 21 years :

The formula used here is,

⇒

where A is the amount after 21 years.

⇒

⇒

⇒

⇒

Therefore, The money in the Felix's account will be $6798 when he is 21.

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step-by-step explanati∵∵∴∴on: