Michael deposited $1,500 into a savings account with a simple interest rate of 2%. How much money will he have in his account af
ter 4 years if no additional deposits or withdrawals are made?
1 answer:
Answer:
$1,620
Step-by-step explanation:
2% per year:
2% of 1,500 = 30
30 x 4 = 120
1500 + 120 = 1620
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