Terry deposits $200 into a bank account that earns 3% simple interest per year. What is the total amount in the account after 2

Question

solong [7]

2 years ago

6

Terry deposits $200 into a bank account that earns 3% simple interest per year. What is the total amount in the account after 2

years?

Mathematics

1 answer:

MrRa [10] · Answer 1 · 2022-06-20T19:50:00+03:00

MrRa [10]2 years ago

5 0

Well first you have to solve for the 1st year so 200*.03, .03 represents the 3%. Which would equal 6 dollars so after the 1st year he would have 200+6=206.

Now you do the second year so do 206*.03, which would equal 6.18 so 206+6.18=212.18

Answer= 212.18