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larisa86 [58]
1 year ago
7

If $200 is put in the bank and each year the account earns 5% simple interest,

Mathematics
1 answer:
Arturiano [62]1 year ago
3 0
<h3>Answer:  $20  (choice B)</h3>

Work Shown:

i = P*r*t

i = 200*0.05*2

i = 20

A quick mental shortcut is to double the 5% interest to get 10%, since this occurs over 2 years. Then taking 10% of something is the same as moving the decimal point one spot to the left. So we go from 200 to 20

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