POSSIBLE POINTS: 20 Garrett invests $11,000 in a savings account that pays 2% simple interest. Which best represents the interest the account will earn after 4 years, if he makes no withdrawals or deposits?

asked Feb 3, 2023 71.8k views

3 votes

5.1k points

Please log in or register to add a comment.

4 votes

Simple interest does not compound so he will only be paid interest at the end
Interest = 11 000 x 2% x 4 = $880

Estebanuri answered Feb 8, 2023

5.2k points

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.7m questions

7.5m answers