Question

Juan deposited $200 in a savings account earning 3% interest over 2 years. What was the total amount of interest earned after 2 years?

A.
$12

B.
$24

C.
$120

D.
$240

Answer 1

i think the reason you are not getting an answer is that it is not clear what "3% over two years" means
if it is 3% per year for two years then the answer is \(200(1.03)^2\) and if it means the total interest was 3% then 3% of 200 is \(.03\times 200=6\)

Answer 2

i guess it means neither, since these are not the choices
i guess it mean 3% for one year, then 3% of 200 for the next year
go with 12

Answer 3

this is not the way interest works, but that is the closest reasonable answer, so go with that one