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You deposit $500 in a savings account. THe account earned 2% simple interest per year. What is interest earned after 8 years

You deposit $500 in a savings account. THe account earned 2% simple interest per year. What is interest earned after 8 years
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You deposit $500 in a savings account. THe account earned 2% simple interest per year. What is interest earned after 8 years

User Nand Lal
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1 Answer

6 votes

Answer:

$500(1.02^8) - $500 = $85.83

User Chakolatemilk
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