You deposit $350 in a savings account. The account earns 2.3% simple interest per year. What is the balance after 2 years?

Rayhanur Rahman asked Oct 21, 2023

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6 votes

You deposit $350 in a savings account. The account earns 2.3% simple

interest per year. What is the balance after 2 years?

Rayhanur Rahman asked Oct 21, 2023

2.6k points

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24 votes

Answer:

$366.10

Explanation:

A = P (1 + rt)

= 350 (1+0.023 x 2)

= 350 (1.046)

=366.1

DaveJenni answered Oct 26, 2023

3.1k points

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