Answer:
$2572.22
Step-by-step explanation:
You want the value of an investment of $2000 after 7 years when it earns interest at 3.6% compounded monthly.
Compound interest
The formula for the account value earning compound interest is ...
A = P(1 +r/n)^(n·t)
Application
You have P=2000, r=0.036, n=12, t=7, so the account value is ...
A = $2000(1 +0.036/12)^(12·7) ≈ $2572.22
