Question

If you have $10,000 in a savings account and you earn 8% simple interest, how much money will be in the account after 3 years?

Answer 1

Answer:

• $12400

Step-by-step explanation:

• Initial amount = $10000
• Interest rate = 8%
• Time = 3 years

Amount in the account after 3 years:

• $10000*(1 + 3*8/100) = $12400