Question

Chris deposited $445 in a simple interest account at his school's bank, where

the rate of interest is 3.4% per year. What is the balance he withdraws at the
end of two years?
a. $475.26
b. $575.26
c. $425.26
d. $375.26

Answer 1

its a. 475.26

Explanation:

445/ 100= 4.45

4.45×3.4=15.13

15.13+445=460.13

460.13+15.13= 475.26