At his son's birth, a man invested $2,000 in savings at 6% for his son's college education. approximately how much, to the nearest dollar, will be available in 19 years?

The amount that will be available n 19 years in bank account will be $6,051.

Step-by-step explanation:

Given :  A man invested $2,000 in savings at 6%.

We have to find the amount that will be available in 19 years in bank account.

Using Formula for Compound interest,

Where, A is amount

P is  principal value

r is rate of interest

t is time period.

Consider a man invested $2,000 in savings at 6% for 19 years.

Here, P = 2000

r = 6%

t = 19 years

On simplifying, we have,

Thus, the amount that will be available n 19 years in bank account will be $6,051.

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