You worked as a lifeguard this summer and earned an extra $3,000. You decided to deposit that amount into your savings account. This savings account will earn 2.0% interest annually and no other deposits will be made. What is the future value after 5 years?

The correct answer is $3300 for simple interest and $3312.24 for compound interest.

Step-by-step explanation:

Income as working as a lifeguard = $3000

We deposit the money in a bank which offers 2% interest annually for a period of 5 years.

Case 1 : Calculating simple interest for the given situation.

Amount after 5 years = 3000 + 3000 × 2 × 5 × = $ ( 3000 + 300) = $3300.

Case 2 : Calculating compound interest for the given situation.

Amount after 5 years = 3000 × = $ 3312.24.

Thus the amount after 5 years amount simply is $3000 and compoundly is $3312.24

u what ?

step-by-step explanation:

the answer is thin because within context, the stanza concludes the and frail tone the people have toward each other, and the fact that it would be thin, makes the most sense compared to "pliable" or "not hard or firm to the touch". hope this , good luck.

step-by-step explanation:

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