Question

13. A savings account earns 10% simple

interest. How much interest does an $800
deposit earn in four years?

14. a. Greg deposits $800 into a savings
account that earns 10% interest
compounded
annually. What is Greg's
balance after four years?

b. How much interest did Greg's
account earn?

Answer 1

Greg's account earned 80$ because 0.10×800=80 80+800=880 total