Hank makes a deposit to his bank of $200. His bank rewards him with an annual interest rate of 8%

Which of the following is the equation for Hank's bank account that will show its total amount y, at any year x.

A. Y=200 + 1.08^x

B. Y = 200 + 0.92^x

C. Y = 200 * 0.08^x

D. Y=200 * 1.08^x

Also, what is the rate for Hanks bank account?

Question

8 October, 20:17

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Mora · Answer 1

The answer should be c since the 8% represents 8 cents and when you multiply it with the 200$ you should get a rate