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Assuming a 5% (0.05) interest rate, $400 invested today in a savings account today will be worth $420 in one year. What will that amount
Assuming a 5% (0.05) interest rate, $400 invested today in a savings account today will be worth $420 in one year. What will that amount be in 2 and 3 years, and what is the total interest you will earn at the end of three years. Refer to the video in the information page for assistance in calculating simple interest. Question 5 options: Year 2: $405.33 Year 3: $398.02 Total Interest: $56.21 Year 2: $221.14 Year 3: $175.22 Total Interest: $78.66 Year 2: $441.00 Year 3: $463.05 Total Interest: $63.05 Year 2: $114.49 Year 3: $122.50 Total Interest: $22.50
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