To calculate how much you will have in the account in 20 years with annual deposits of $2000, 4% interest compounded annually, we can use the future value of a series formula:

$A = P \times \frac{(1 + r)^n - 1}{r}$

Where:

• $A$ is the future value of the account
• $P$ is the annual deposit ($2000)
• $r$ is the annual interest rate (4% or 0.04)
• $n$ is the number of years (20)

Plugging in the values:

$A = 2000 \times \frac{(1 + 0.04)^{20} - 1}{0.04}$

Let's calculate that.

After 20 years of depositing $2000 annually into an account earning 4% interest compounded annually, you will have approximately $59,556.16 in the account.

Would you like further details or explanations?

Here are 5 related questions for further exploration:

1. How would the total change if the interest rate increased to 5%?
2. What if the deposits were made monthly instead of annually?
3. How much would you need to deposit annually to reach $100,000 in 20 years at 4% interest?
4. What if the interest was compounded quarterly instead of annually?
5. How much interest will you have earned after 20 years?

Tip: The longer you leave your money in an account with compound interest, the more interest you'll earn, thanks to the power of compounding.