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You put $400 in a savings account. The account earns 2% simple interest per year. a. What is the interest earned after 6 years? b. What is the balance after 6 years?

You put $400 in a savings account. The account earns 2% simple interest per year. a. What is the interest earned after 6 years? b. What is the balance after 6 years?
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You put $400 in a savings account. The account earns 2% simple interest per year. a. What is the interest earned after 6 years? b. What is the balance after 6 years?

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User Cahlan Sharp
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7.7k points

1 Answer

7 votes
I think you go
400(.02)(6)=48
400+48=448
I believe this is the answer.
answered
User EdwynZN
by
8.9k points
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