Question

5.

Sarah deposited $800 in an account that earns
2% interest compounded annually. Claire deposited
$800 in an account that earns 2% simple interest.
How much will each girl have in their account at the
end of 8 years if they do not make any deposits or
withdrawals?

Answer 1

Sarah will have $937.28 and Claire will have $928.

Explanation:

All my work is provided in the screenshots that are attached to my answer! Drop questions in the comments and I'll try to respond if I remember/see them lol.

Have a great day!