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You deposit $300 in a savings account. The account earns 2% simple interest per year.
a. What is the interest earned after 10 years?
The interest earned is $ after 10 years.
b. What is the balance after 10 years?
The balance is $ after 10 years.

Respuesta :

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Answer:

Answer:

a. ----> $10

b. ----> $110

Step-by-step explanation:

Step-by-step explanation:

principle ( p ) = $100

time ( t ) = 10 years

rate ( r ) = 11%

simple interest = (p × r × t)÷ 100

= ( $100 × 11 × 10 )÷ 100

= 11000 ÷ 100

= $110

interest = simple interest - principle

interest = $110 - $100

= $10

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