Question

How much money will be in a bank account after 4 years if $8 is deposited at an interest rate of 5%?

Answer 1

depends on how the interest is compounded

Answer 2

Okay, So let's break this down.
50% of $8 is $4. That's half.
25% of $8 is $2. That's a quarter.
20% of $8 is $1.6
5% of $8 is $0.4

Let's stop there and start with the interest.
5% of $8 is added to the bank account every year.

4 years of 5% means 20%. 20% of $8 is $1.6
I believe that will be your answer.