Question

Emily invested $2,000 in an account at a 3.5% interest rate. She kept the money in her account for four years. Determine, to the nearest dollar, the balance in the account after four years.

Answer 1

2000 x .035 = 70, 4 years= 4 times so 70 x 4
=280
Now Emily has invested 2000 so she started with 2000 plus the interest rates her account made
Final answer = 2280

Answer 2

$280

Explanation:

$2000 * 3.5% * 4 = $8000 * 0.035 = $280