Jacob deposits $1500 into a savings account that earns 2% simple interest. The interest is applied to his account at the end of each year. What is the balance in his account after 2 years?

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asked May 22, 2021 150k views

5 votes

Jacob deposits $1500 into a savings account that earns 2% simple interest. The interest is applied to his account

at the end of each year. What is the balance in his account after 2 years?

Mathematics
middle-school

Jackie Shephard asked

by Jackie Shephard

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1 Answer

6 votes

Answer:

$60

Explanation:

1500 times 2% is 30

30 times 2 is 60

so the answer is $60

Jagadish Upadhyay answered May 26, 2021

by Jagadish Upadhyay

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