During years 2 and 3 combined, the account earned $10 compound interest. How much was in simple interest?
A) $30
B) $80
C) $105
D) $110
E) $120

Question

Quizplus · Accepted Answer

The account earned $10 compound interest during years 2 and 3 combined. This means that the interest earned in year 2 was $5, and the interest earned in year 3 was $5. The simple interest earned during years 2 and 3 combined is $10.

During Years 2 and 3 Combined, the Account Earned $10