Question

Daniel puts $205 in a savings account at

the bank, where he gets an annual

the simple interest rate of 0.5%. He plans

to leave the money in for 6 years.

Answer 1

211.15

Explanation:

Interest of 1 year = 0.5x205 = 1.025

Interest of 6 years = 1.025 x 6=6.15

Amount he gets after 6 years = 205+6.15= $211.15