Question

Han earned $850 over the summer working odd jobs. He wants to put his money into a savings account for when he is ready to buy a car. His bank offers a simple interest account at 5%, how much interest will Han have earned after 2 years?

Answer 1

Answer: $850 x 2 = $1700.00

Step-by-step explanation: You just multiply 2 times $850 and you get your answer.

Answer 2

$884.34

Explanation:

$850.00*2%=$17.00

$850.00+$17.00=$867.00

$867.00*2%=$17.34

$867.00+$17.34=

$884.34