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24 March, 12:54

Joan deposited $550 into her savings account for two years. She received 1.8% simple

interest on her money. How much money did she have at the end of the two year term?

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  1. 24 March, 15:21
    0
    Answer:$569.8

    Step-by-step explanation:

    To find the amount received for$550 deposited for 2yrs at 1.8% per annum

    I=prt/100

    I=550*1.8*2/100

    I=$19.8

    To find the whole money deposited after 2yrs

    A=I+p

    A=$19.8+550

    A=$569.8
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