Debbie has $460 in a savings account that earns 8% annually. If the interest is not compounded, how much interest will she earn in 5 years? A) $18.40 B) $36.80 C) $184.00 D) $644.00

Question

Alayna Pitts

Mathematics

8 February, 03:36

Debbie has $460 in a savings account that earns 8% annually. If the interest is not compounded, how much interest will she earn in 5 years? A) $18.40 B) $36.80 C) $184.00 D) $644.00

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Answers (1)

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Cayden Schroeder · Answer 1

The answer is C.)

since the 8% of $460 is $36.80

the next 5 years will increase at the same rate

so then you have to multiply 36.80 by 5 which equals $184