Question

Can someone help me ive been stuck on this for a bit

Keenan opens a savings account with $740
that earns 6% interest per year, not compounded.
How much money, to the nearest penny, will Keenan have in 8 years? Give your answer in dollars.

Answer 1

1095.20

Explanation:

Take the 8 for the amount of time and multiply it by .06 because .06 is repeating each year.

You get .48 when you multiply it. Take that decimal and multiply it by 740.

He will get an extra 355.20. Add that with 740.

He has $1095.20 in his account.

Answer 2

Answer: $1095.20

Step-by-step explanation: Multiply 6% by 740 and then times that number by 8 and add it to 740, lmk if it is wrong though.