Question

How much money would you have if you deposited $100.00 in an account thatearned 8% interest after 20 years?

Answer 1

Problem:

How much money would you have if you deposited $100.00 in an account that earned 8% interest after 20 years?.

Solution:

Step 1: Calculate 8% of the given amount ($100.00):

`100.00\text{ x 0.08 = \$8 }`

Step 2: Add the above value to the money deposited:

$100.0 + $8 = $108.0

Thus, we can conclude that the money in this account after 20 years is $108.0