Caroline deposited $500 into a savings account that pays a simple interest rate of 4% per year. Which
of the following is the closest to the interest she earned in 2 years?
Answer: She would have earned $40s in interest over a 2 year period. Step-by-step explanation: 4% of $500 is $20. If you were to multiply by 2 because of 2 years, you would have $40.
