Question

2. Chris invests $100 in the Simple Bank of America at a simple interest rate of 8%.

How much will be in his account after:

Answer 1

Simple,

Step-by-step explanation:

In one year, Chris will simply have his initial 100 dollars plus the 8% interest he has gained from his investments. If we write 8% as a decimal (0.08) and multiply it by the simple start-up value of 100 we find out the interest in one year was 8 dollars ($100 x 0.08) we then take the interest and simply put it with Chris's simple start-up $100 to get 108 simple dollars. simple simple simple. Any bank offering 8% interest in this economy is a bank that I would like to put my life savings into. (They must be investing in international stock) Simple.