Edward deposited $10,000 into a savings account 2 years ago. the simple interest rate is 2% How much money did Edward earn in interest? what would his new account balance be?

Interest Earned: $400 / New Account Balance: $10,400

Step-by-step explanation:

We will use the simple interest formula for this problem.

A = P (1 + rt)

P = initial balance

r = annual interest rate

t = time

We can plug in your values into the equation. Remember to convert the percent into its decimal form (2% -> .02):

A = 10,000(1 + .02 x 2) = 10,400

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step-by-step explanation:

look at the picture.

y-intercept for the function on a picture is 4 → point (0, 4).

y-intercept for the function

is for x = 0. substitute:

y-intercept is 8 → point (0, 8).