Question

You deposit $1200 in an account earning 8% simple interest. a. What is the account balance after 1 year? b. At the end of the first year, you deposit the balance of the áccount in a CD (certificate of deposit) earning 8% simple interest. What is the account balance after another year?

Answer 1

pick which ever one u want to :)

Answer 2

a. if you earn 8% annually it would be $1296 at the end of the year.
b.$1296 x 8% =$1399.68