Question

$400 is deposited in a bank account that earns 5% simple interest per year.

What is the total amount in the account after 6 years?

Answer 1

Answer: 1,200

Step-by-step explanation:

you would take $400 * 5% = 200

then take 200 *6 = 1,200

Answer 2

ANSWER: $520

Step-by-step explanation:

rate= 5%/100 or 0.05 per year

the equation= 400(1 + (0.05 x 6)) = 520