Alan has $300 in a savings account that earns 2% interest per year. The interest is not compounded. How much interest will he earn in 2 years?

asked Apr 5, 2023 147k views

10 votes

Alan has $300 in a savings account that earns 2% interest per year. The interest is not

compounded. How much interest will he earn in 2 years?

8.4k points

Please log in or register to add a comment.

13 votes

Answer:

12.12

Explanation:

2 percent of 300 is 6 so add 6 then2 percent of 306 is 6.12 equaling to 12.12$ in interest

Sameer Shah answered Apr 10, 2023

8.2k points

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.2m questions

11.9m answers