Plz juan deposited $200 in a savings account earning 3% simple interest over 2 years. what was the total amount of interest earned after 2 years?

Answer : $12

 Explanation : There are three elements that characterize a savings account: initial capital (Principal), interest rate (Rate) and deposit time (Time). The interest rate is usually annual and the time will be expressed in years also.

The interest rate can be simple or compound. The simple interest only applies the interest rate on the principal at the end of each payment period, but the compound interest would be more profitable, since the interest produced in each calculation period is accumulated to the principal before calculating the interests of the following calculation period, thus interests also produce interest.  

Here we apply the Simple Interest Formula

produced Interest = P x R x T  

P = Principal, R = interest rate (annual), T = years  

We apply the data of our case  

Produced Interest = P x R x T = $200 x 3/100 x 2 = $200 x 0.03 x 2 = $12  

Answer : $12  (total amount of interest earned after 2 years)



answer: 3.26019516

step-by-step explanation:

step-by-step explanation:

we have

using a graphing tool

see the attached figure

this is a quadratic equation (vertical parabola) open up

the vertex is a > vertex

the domain of the function is all real > interval (-∞,∞)

the range of the function is the > [-6.125,∞)

the function has two x->   and

the function is increasing over the > (0.25,∞)

the function is decreasing over the > (-∞,0.25)