Question

If Tyler deposits $2000 of the $3200 he has earned in an account that pays 8% simple interest, how much will he have after 1 year? Show all work.

Answer 1

Hes right

Explanation:

Answer 2

$2160

Explanation:

Here we are going to use our simple interest formula. We know that p=2000,t=1, and r=8/100=0.08 Once again, lets replace those values in our formula: A=2000(1+(0.08)(1)) A=$2160