Question



Alan won $2,000 in an essay contest. He invested the money in a
savings account which increases 6% annually. What is Alan's
investment worth after two years?
A. $240
B. $2,240
C. $247
D. $2,247

Answer 1

B

Explanation:

definitely b because 6 percent of 2000 is 120 and 120 x 2 is 240 so add that to the 2000 and theres your answer

Answer 2

Option D

The Answer is $2,247

Explanation:

Alan invested the money in a savings account which increases 6% annually.

First Year

2000 × 6 ÷ 100 = $120

Now,

2000 + 120 = $2120

Second Year

2120 × 6 ÷ 100 = $127

Now,

2120 + 127 = $2247

Thus, Alan's investment worth after two years is $2247

-TheUnknownScientist 72