HawkinsL297971 HawkinsL297971
  • 25-10-2022
  • Mathematics
contestada

How much money would you have if you deposited $100.00 in an account thatearned 8% interest after 20 years?

Respuesta :

ErabellaB250485 ErabellaB250485
  • 25-10-2022

Problem:

How much money would you have if you deposited $100.00 in an account that earned 8% interest after 20 years?.

Solution:

Step 1: Calculate 8% of the given amount ($100.00):

[tex]100.00\text{ x 0.08 = \$8 }[/tex]

Step 2: Add the above value to the money deposited:

$100.0 + $8 = $108.0

Thus, we can conclude that the money in this account after 20 years is $108.0

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