Question

A man deposited $800 in his account at the bank which offers 6% simple interest per annum

a, how much interest would he receive on the $800 after 9 months
b, how long it take for $800 to increase to $992

Answer 1

Explanation:

after 9 months, the man will have received $836. It would take 4 years to get $992 with a 6% simple interest annually