William invested $800 in an account that paid 5% simple interest per year.

Part a how much interest did william earn over 3 years?

Part b William withdrew all of his money from the account after 3 years. if the bank charged him a 2% fee, how much money did William withdraw?

Question

Daphne Cooke

16 June, 06:45

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Answers (1)

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Flower · Answer 1

A) Interest = principal * rate * time

I = (800) (0.05) (3) = $120

b) $800 + $120 = $920 after the three years. $920 * (1 - 0.02) = $901.60.

William invested $800 in an account that paid 5% simple interest per year.Part a how much interest did william earn over 3 years?Part b William withdrew all of his money from the account after 3 years. if the bank charged him a 2% fee, how much money did William withdraw?