An account begins the year with a $500.00 balance. If the account earns 2% simple interest, what is the balance at the end of one year? A. $502.00 В. $510.00 C. $500.00 D. $520.00
An account begins the year with a $500.00 balance. If the account earns 2% simple interest, what is the balance at the end of one year? A. $502.00 В. $510.00 C. $500.00 D. $520.00
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:An account begins the
$500.00 balance. If the account earns
year with a
2% simple interest, what is the
balance at the end of one year?
A. $502.00
B. $510.00
C. $500.00
D. $520.00
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