Troy has $28,900 in a savings account that earns 6% annually. The interest is not compounded. How much interest will he earn in 2 years?

Question

asked Dec 20, 2023 216k views

1 Answer

Stefan Mondelaers · Answer 1 · 2023-12-27T02:01:47+0000

First calculate the 6% of 28900

6 x 28900/ 100= $ 1734

now because IS NOT compound interest then multiply by 2 the result

2x $1734 = $3468