SOLUTION: You invest #300 into a 2 year certificate of deposit that earns 6.5% simple annual interest. What is the balance at the end of 2 years?

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Question 732321: You invest #300 into a 2 year certificate of deposit that earns 6.5% simple annual interest. What is the balance at the end of 2 years?
Found 2 solutions by lynnlo, ikleyn:
Answer by lynnlo(4176) About Me  (Show Source):
Answer by ikleyn(53521) About Me  (Show Source):
You can put this solution on YOUR website!
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You invest #300 into a 2 year certificate of deposit that earns 6.5% simple annual interest.
What is the balance at the end of 2 years?
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Use the formula for the future value of a simple interest account

    FV = 300*(1+0.065*2) = 339.    <<<---===  ANSWER

Solved.

The answer in the post by @lynnlo is incorrect.

Simply ignore his post.