To be able to go on a trip to South America, Raina decides to save for 2 years. She opens a savings account with $200. The account pays simple interest at an annual rate of 5%. She doesn't make any more deposits.

Answer the following questions. If necessary, refer to the list of financial formulas

(a) How much total interest will Raina earn?
	$
(b) What will the total amount in the account be (including interest)?
	$

Answer rating: 100% (QA)

a Total interest earned We can use the simple interest f... View the full answer