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Martina has $80 in a savings account that earns 10% annually.The interest is not compounded. How much will she have in 4years?

User Jengfad
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Final answer:

Martina will have a total of $112 in her savings account after 4 years, as she earns $32 in simple interest over this period on her initial $80 deposit with an annual interest rate of 10%.

Step-by-step explanation:

The question asks how much Martina will have in 4 years if she has $80 in a savings account that earns 10% annual interest that is not compounded.

Since the interest is not compounded, it's a simple interest calculation. The interest she earns each year is 10% of $80, which is $8 per year. Over 4 years, she will earn 4 times $8, which is $32. When you add the interest to the original amount, Martina will have $80 + $32, which equals $112 in her savings account after 4 years.

User Warwick
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