malak31 malak31

12-06-2021
Engineering

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Mr. Ray deposited $200,000 in the Old and Third National Bank. If the bank pays 8% interest, how much will he have in the account at the end of 10 years?

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brihanabritish12 brihanabritish12

12-06-2021

Answer:

2,160,000

Explanation:

8/100 × 200000/1 = 8/1 × 2000/1

2000 × 8 = 16,000 = interest

200,000 + 16,000 = 216,000

216,000 × 10 = 2,160,000 = amount in bank account

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