I plan on opening a savings account with $500 and leaving it in the account for 2 years. If the bank is going to pay me an inter
est rate of 3%, how much money will I have in the account at the end of 2 years?
A. $30
B. $300
C. $530
D. $800
2 answers:
C. 530
500 x 2 x 3%
500 x 2 x .03
1000 x .03
30
30 + 500 = 530
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