Question

HELP.

A bank account started with $1000 and earned $10 interest per month
for two years. The bank then paid 2% interest on the account for the
next two years.

Answer 1

2992 or 2112

Explanation:

$1,000 times 10% (0.1) = $100

$1,200 in a year.

$2,400 in a year + $1,000 originally = $3,400.

$3,400 * 0.12 = $408

#3,400 = $408 = $2,992.

Or..

$2,400 * 0.12 = $288

$2,400 - $288 = $2,112.