Question

Amanda opened a savings account with a $550 deposit. Her money earns 3.8% simple interest per year. How much interest will she earn on her deposit in 5 years?

Answer 1

$104.5, i got that by finding out the 3.8% of 550 which was 20.9 and multiplying 20.9 times 5 which is 104.5. Don't let yourself go by what i say, always double check but that's just how i think you do it.