Question

Harvey has $390 in a savings account that earns 6% simple interest each year. How much interest will Harvey earn in 2 years, assuming she does not add or take out any money? How much total money is in the account at the end of two years?

Answer 1

She will earn $46.8 of interest. $436.8 is in her account total after the two years

Explanation:

You would find out how much 6% of $390 is which would be $23.4 and then you would find out how much it would be after two years so you would $23.4 times two which is $46.8 so the interest would be $46.8. Then you would add the interest to the $390 that was put into the savings so you would do $390 + $46.8 = $436.8