If you put $200 into a savings account that pays annual compound interest of 8% per year and then withdraw the money two years later,you will earn interest of $32.

Name: If you put $200 into a savings account that pays annual compound interest of 8% per year and then withdraw the money two years later,you will earn interest of $32.
Brand: Quizplus
Rating: 4.9 (36 reviews)

Question

Quizplus · Accepted Answer

The interest earned on the $200 deposit after two years would be $33.28, not $32. Therefore, the statement is false.

If You Put $200 into a Savings Account That Pays