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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?
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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?

User Amarjit
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1 Answer

3 votes

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

User Stefan Mondelaers
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7.8k points
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