Question

Karen opened a savings account with $500. The money earns 0.2% interest per

month. If she does not make any withdrawals or any more deposits, approximately how
much money will Karen have in the account after two years?

Answer 1

I'm guessing it is exponential, which means the balance increases by more over time, so the equation would be

500(1+0.002)^2=520.2002

or rounded to 502

Answer 2

Answer:2,500

Explanation: