Question

When Melissa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the total amount in the account after 18 years.

Answer 1

simple means not compound?

Answer 2

9% of 8,000 is
\[.09\times 8,000=720\] so i guess $720 a year for 18 years is
\[720\times 18=12960\] plus the original 8,000 gives $20,960