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You deposit $300 in a savings account. The account earns 2% simple interest per year. What is the balance after 10 years?

You deposit $300 in a savings account. The account earns 2% simple interest per year. What is the balance after 10 years?
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4 votes
You deposit $300 in a savings account. The account earns 2% simple interest per year.

What is the balance after 10 years?

User Nextar
by
7.8k points

1 Answer

11 votes
300x .02= 6

6x10=60

Therefore the answer is $360
User Bob Fincheimer
by
9.1k points
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