3 years ago

$800 deposit over 10 years with an interest rate of 2%

Mathematics

1 answer:

TiliK225 [7]3 years ago

8 0

Answer:

the interest is 960.

Step-by-step explanation:

the formula: I=prt i=interest p= pricipal [the money you start with]

r= rate t= time

I=? I= 800 (0.02) (10)

P= $800 I= 160+ 800 {because $160 is added}

R= 2% --> 0.02 [as a decimal] I= $960

T= 10 years

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