Question

You deposit $500 in an account that earns 4% simple annual interest entrance and each year is added to the principal to create a new principal find the total amount in your account after each year for three years

Answer 1

first year $20 second year $20.80 Third year $21.63

Step-by-step explanation: This is for an extra money per year so after the first year that is how much extra money he gets every year.