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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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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?

User Jackie Shephard
by
6.3k points

1 Answer

6 votes

Answer:

$60

Explanation:

1500 times 2% is 30

30 times 2 is 60

so the answer is $60

User Jagadish Upadhyay
by
5.9k points
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