A certificate of deposit whith principal $150 earns 4%annual interest for 2 years
1 answer:
Answer:
$162 ( or 162.24 when interest compounded)
Step-by-step explanation:
If 4% is simple interest, $150 after 2 years
150 x (1 + 0.04 x 2) = 150 x 1.08 = 162.00
If it is compound interest
150 x (1 + 0.04)² = 150 x 1.0816 = 162.24
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