Question

Toby deposited $2,103.24 in a savings account that earns 5.1% simple interest. What will Toby’s account balance be in 10 months?

Answer 1

I believe it'd be $2192.63?

Answer 2

Assuming the 5.1% interest rate is annual, calculate what 5.1% of 2103.24 is. Then since you want the balance after only 10 months, divide the interest amount by 12 (to get the interest per month) and multiply by 10 (to get the interest after 10 months.) Then add that amount to 2103.24.