Question

You have deposited $400 in a simple interest savings account which place 3% interest annually.

Find the amount of interest for 0, 5, 10, 15, and 20 years.

Add the interest to $400 and fill in the table round the amounts to the nearest dollar.

Answer 1

0 years: $0

5 years: $460

10 years: $520

15 years: $580

20 years: $640

Explanation: