Question

Sonny deposited $8,500 in an account that earns 4% simple interest. If Sonny makes no more deposits or withdrawals, then how much interest will he earn at the end of 2 years?

a
$6,800.00
b
$68,000.00
c
$680.00
d
$9,180.00

Answer 1

Answer: D, $9,180.00

Step-by-step explanation: 4% of $8,500=$340. That multiplied by 2 gives the answer of $680 which is added onto the base amount ($8,500) and gives us the ansswer of D. Hope this helps :)