Maybe that was to confusing...we have a data sheet to fill out - 2 questions with simple interest and 2 with compound interest.
I just need the simple interest help:
Prob. #1 Find the total amount if you deposit $500. at a rate of 5% for two years using simple interest.
Year 1 - $500.00 x .05% = $25.00 = $525.00
Year 2 the teacher said I had to start with $500. again - I don't understand what my total will be?? Please help