Question

Tenille made $2,000 on a summer job. She put it in a bank account paying simple interest of 5% annually. If Tenille lets her money earn interest for 10 years, how much will she have?(1 point)
$

Answer 1

wrong

Answer 2

Tenille will have $2,000 + ($2,000 * 0.05 * 10) = $2,000 + ($100 * 10) = $2,000 + $1,000 = $<<2000+2*1000=4000>>4,000. Answer: \boxed{4,000}.

Answer 3

My apologies for the mistake.

To calculate the simple interest, we use the formula:

Interest = Principal * Rate * Time

Given that the principal amount is $2,000, the rate is 5%, and the time is 10 years, we can calculate the interest earned as follows:

Interest = $2,000 * 0.05 * 10 = $1,000

To find the total amount in the bank account after 10 years, we add the interest to the principal:

Total amount = $2,000 + $1,000 = $3,000

Therefore, Tenille will have $3,000 after 10 years.