Question

Find the amount of interest …… if I had $2400 in the bank and the interest rate was 3% for 1 yr.

What is the total I have after 2 years?

Answer 1

2546.16

Explanation:

2400x0.03=72

2400+72=2472

2472x0.03=74.16

2472+74.16=2546.16

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Answer 2

2544 because 2400x.03 x2 equals 144 2400 +144= 2544