Question

Devante paid a security deposit of $525 when he signed the lease for his apartment. The money was put into an account earning 2% simple annual interest. After renting for 8 years, Devante got his deposit back. What was the payout balance?

Answer 1

this one?

Answer 2

yes

Answer 3

i got no clue what it means to have a payout balance; i assume it means that he got his original deposit + interest tho.

in real life; he would have gotten the deposit back and the landlord would have kept the interest

Answer 4

525 + (525 *2% *8) = payout

Answer 5

you want me to give you the choices

Answer 6

does one of them say 609?

Answer 7

yes

Answer 8

then unless i did it wrong .... which is highly probable these days .... that is the answer :)

Answer 9

thanks