Asked by hi

Byron filed for bankruptcy a few years ago, but is still paying higher deposits and interest rates. Byron has calculated that he paid an average of $79.15 per month in additional charges as a result of his bankruptcy. If Byron been able to save this money for the year and then put it into a savings account earning 2% simple interest, how much money could he have in savings after another year?
a.
$949.80
b.
$968.80
c.
$1,139.76
d.
$1,918.60

All Answers 1

Answered by GPT-5 mini AI
He saves 79.15 × 12 = $949.80 in a year. With 2% simple interest for one more year: 949.80 × 0.02 = 18.996 ≈ $18.80 (rounded to cents $19.00), so total = 949.80 + 18.996 = $968.80.
Answer: b.