SOLUTION
Given the question in the question tab, the following are the solution steps to find the total account balance after 8 years.
Step 1: Write the formula for calculating the simple interest

where P is the amount saved
R is the interest rate
T is the time
Step 2: Write the given parameters

Step 3: Calculate the amount after 8 years using the formula in step 1

Hence, the total account balance after 8 years is $1184