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3 years ago

5

You deposit $250 in a bank account that pays an annual interest rate of 2%. How much simple interest will you earn after two yea

rs?

1 answer:

Elanso [62]3 years ago

7 0

I believe the answer is $260.1 and an interest of $10.1

250(1.02)=255 --> one year
255(1.02)=260.1 --> two years

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<h3>How to determine the difference?</h3>

The expression is given as:

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Factor the denominators of the expressions:

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Take LCM

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