Question

Nine years ago, Tarah opened a savings account with her bank. She started with a balance of $359 and has not made any withdrawals or deposits since then. If her interest rate is 8% each year, how much interest has accrued using simple interest?
Total Interest = $


What is Tarah's new total balance?

New Balance Total = $

Answer 1

Answer:  

Total interest = $28.72

New balance = $ 387.72

Explanation: Tarah has $359 in the bank. To find the amount of interest, multiply 359 by .08.

She gets $28.72 interest annually.

In one year, she will make $387.72.  (Add the total interest to her original balance)

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