3 years ago

Myrna deposits $1,000 in a savings account. The money is left on deposit for 2 years earning 4%

Mathematics

1 answer:

maw [93]3 years ago

6 0

Answer:$1000 is invested now with simple interest of 8% per year. Find the new amount after two years.

P = $1000, t = 2 years, r = 0.08.

A = 1000(1+0.08(2)) = 1000(1.16) = 1160

Step-by-step explanation:

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